Burnaby's QuestAir Technologies Inc. (TSX:QAR) plans to de-list its shares from London's Alternative Investment Market citing low trading volume.
The developer and supplier of proprietary gas purification systems said it couldn't justify the costs associated with an AIM listing given its stronger North American shareholder base.
QuestAir's last day of trading on the AIM will be January 7, 2009, after which AIM shareholders will need to move their holdings from the CREST Depositary Interest register in the U.K. to become tradable on the TSX.
The company initiated its AIM listing in December 2004, which was at the same time it went public on the TSX. Initially, it had hoped to attract the attention of specialized funds in the U.K. that invested in alternative energy technologies. But, given the institutional nature of investors on AIM, trading volumes were low and the company's main base of retail investors remained in North America.
QuestAir's share price range during the past week: between $0.19 and $0.21; 52-week high: $5; 52-week low: $0.14.