Tenon to step up to main market in May
Tenon to leave AIM and join the big league on the main market
Andy Raynor, Tenon
Top ten accountancy business Tenon will become the first practice to list on
the UK’s main share market at the end of May.
A regulatory statement issued by the company this morning announces that
trading of Tenon’s share on the Alternative Investment Market (AIM) will cease
on 27 May and that trading on the main market of the London Stock Exchange is
expected to take place simultaneously.
Tenon expects to publish a prospectus for the main listing shortly before
before it goes ahead.
An announcement in December 2009 revealed that Tenon was heading towards a
main listing this year.
Despite good financial results there has been some disappointment at the
performance of Tenon’s shares on AIM.
Interim results recently published showed profits up to £8.8m for the six
months to December last year.
December also saw Tenon wrap up the acquisition of Bentley Jennison which
took the business into the RSM international network.
Tenon has not been without controversy. It was recently fined £700,000 by the
Financial Services Authority in relation to advice given for the sale of
structured financial products.
