StockMarketWire.com - CP Student Living has applied to the Channel Islands Securities Exchange Authority for the cancellation of the company's listing.

The company currently operates with a dual listing of its ordinary shares on both the Specialist Fund Market of the London Stock Exchange and the official list of the CISEA.

Prior to 5 August 2013, for shares to be qualifying investments for ISA purposes they had to be officially listed on a recognised stock exchange.

However, with effect from that date, shares can be qualifying investments for ISA purposes if the shares are, in the European Economic Area, admitted to trading on a recognised stock exchange.

At the date of the Company's IPO, shares admitted to trading on the SFM would not have been qualifying investments for ISA purposes and therefore a listing on the official list of the CISEA was required to ensure ISA eligibility.

With effect from 5 August 2013, as a result of amendments made to the ISA regulations, ISA investors can now invest in shares admitted to trading only on the SFM.

The company says that after consultations with its legal and financial advisers, the board has decided that it is no longer in the interests of shareholders to retain a listing of its ordinary shares on the official list of the CISEA, taking into account the ongoing costs of such listing. The company's ordinary shares will continue to trade on the SFM.

A minimum of 20 business days' notice must be given in respect of the cancellation and the board anticipates that the delisting will take effect at 7 a.m. on 10 October.






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