Disillusioned Just Car Clinics joins the queue leaving AIM

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The company, which joined the junior market almost nine years ago, recited a litany of reasons for quitting. It said it had seen little of the "perceived benefits" of being on AIM, such as the ability to raise money, an enhanced corporate profile, a means to incentivise key staff and a market for its shares.

Instead, it said, there were good commercial reasons for not being listed. It said: "The requirement to provide trading updates under the AIM rules is potentially commercially disadvantageous in the current climate.

"Volatility in the share price can also create a misleading view of the company and its trading performance, which can adversely affect negotiations with customers and suppliers. The board believes that cancellation will facilitate more straightforward contractual discussions with existing and potential customers and suppliers."

Just Car added that by delisting, it would save management time and costs. The rate at which companies are leaving AIM is speeding up, with 28 in the first quarter and 42 in the second.

Just Car Clinics said it plans to open a share-dealing facility with its stockbroker Brewin Dolphin on a matched-bargain basis.

The chairman, chief executive and finance director own 45% of the shares between them.

Trading started in those shares at around 8p on January 2003, and they hit a peak of 1051⁄2p in July 2007.

First-half profits slumped from £608,000 to £195,000, the company revealed today.