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Date: Friday 22 Feb 2008

LONDON (ShareCast) - Access network solutions provider Telspec swapped the main market for AIM this week.

“The board believes that AIM is a more appropriate market for a company of its size and resources and that the transfer of the ordinary shares to trading on AIM should lead to lower ongoing costs associated with being a public company and a simplification of the company's administration and regulatory requirements,” said the group.

“It also believes that AIM offers greater flexibility, particularly with regard to corporate transactions, and should therefore enable the company to agree and execute certain transactions more quickly, if acquisition or other opportunities arise in the future,” it added.

Telspec will continue to meet its obligations to existing customers and will assess new cash generative sales opportunities.

Da Vinci Capital Management plans to list on the LSE’s new Specialist Fund Market in March to raise up to $200m.

“We will be the first fund to enter this section,” Reuters quoted managing director Yevgeny Fetisov as saying.

The Da Vinci CIS Private Sector Growth fund, which invests in ex-Soviet states, is currently carrying out a roadshow.

The Specialist Fund Market opened for admission on 1 November and is aimed at large hedge funds and private equity funds.