Daisy sets the date for stock market exit

Trading of shares will cease on 22 January

Daisy Group has announced it is planning to exit the stock market in just under five weeks' time on 22 January.

The firm - which has recently sealed the deal on a £494m management buyout led by its chief executive Matt Riley and a duo of private investors - announced today it has applied to the London Stock Exchange for the cancellation of the trading of its shares on AIM.

Earlier this month, when Bidco - the acquisition vehicle created by Riley and his investors - announced its offer had been unconditionally accepted, it said the firm would be taken off the stock market "no earlier than 20 January".

In an update published today, Daisy said the move will occur at 7am on 22 January 2015, "after which time Daisy Shares will no longer be admitted to trading on AIM".

Just a few weeks after the firm is taken off AIM, current Computacenter managing director Neil Muller is set to take over the reins as chief executive of Daisy. Daisy's existing CEO Matt Riley will take on the role of executive chairman but will continue to work closely with Muller.