LONDON: The Works, a renowned value retailer specializing in books, arts and crafts, stationery, toys, and games, has officially transitioned to the AIM market of the London Stock Exchange plc. As of 8:00 a.m. today, the company’s entire issued share capital, comprising 62,500,000 ordinary shares valued at one penny each, has begun trading under the TIDM WRKS and ISIN GB00BF5HBF20.
This strategic shift aligns with The Works’ objective to operate within a market that better suits its business model. The simultaneous cancellation of the company’s ordinary shares from the Premium Segment of the Main Market underscores this new direction.
Detailed information regarding the Admission is accessible through the Company’s Schedule One announcement, released on April 4, 2024. Additionally, an appendix to the Schedule One and further details mandated by AIM Rule 26 can be found on The Works’ investor relations webpage.
Carolyn Bradley, Chair of The Works, expressed her satisfaction with the transition: “We are pleased that our move to AIM has now completed, meaning that The Works is now listed on a more appropriate market. We reiterate our confidence that this move will deliver a significant cost saving leading to increased value for shareholders. We would like to thank our shareholders for their continued support.”
The company’s optimism is palpable as it embarks on this new chapter, with a focus on enhancing shareholder value and streamlining costs.
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