PROVENTEC, the Liverpool based provider of specialist cleaning technologies, has announced moves to cancel trading of its 10p ordinary shares on AIM (Alternative Investment Market).

The Rodney Street-based firm which supplies cleaning equipment for hospitals in the fight against 'super bugs' is calling a general meeting of shareholders to seek their approval for the proposal on February 9.

It said it believes the AIM cancellation would be in the best interests of the company and its shareholders.

It added that it intends to maintain the listing of its ordinary shares on the Alternext market, and an AIM cancellation would not affect those listings.

David Chestnutt, Proventec chief executive, said today: "With a significant proportion of the company's shareholder based in the Eurozone we believe that the current Alternext listing can be used for their future trading purposes.

"This, coupled with the fact that there are significant cost savings to be made from our proposed withdrawal from AIM, lead the board to recommend shareholders of the company vote in favour of the resolution to be proposed at the general meeting."

Directors estimate it would cost Proventec £140,000 annually to maintain a listing on AIM.