Relaunch of exchange group Plus Markets

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The Independent Online

Plus Markets, the former stock exchange group that once counted Arsenal Football Club among its clients, is to relaunch as a natural resources company.

The group's investors have approved the unusual plan, just months after the company was forced to sell its exchange to Icap for only £500,000 owing to financial difficulties.

Plus will be renamed and used as a shell for either a reverse takeover or an investment vehicle in the natural resources sector, in a transformation spearheaded by new directors Don Strang and Hamish Harris. It will give investors such as Kuwait's Amara Dhari Investments the chance to recoup some of the millions lost bankrolling the group.

The June sale of the exchange business, after the Financial Services Authority warned it would revoke the company's licence, protected the listings of Arsenal and other large companies, including the brewer Shepherd Neame.