Wedgwood comes off stock exchange

The company has already cut 300 jobs at its Barlaston plant

Waterford Wedgwood plc has confirmed it is delisting from the London Stock Exchange on Wednesday.

It will keep trading on the Irish Stock Exchange and said the effect on shareholders would be "negligible."

The Staffordshire based china and ceramics company said it was ending its dual listing to save money.

In August it said 50 office posts and 250 factory jobs would go at its plant in Barlaston, Stoke-on-Trent. Another 95 jobs were put at risk in November.

It applied to the UK Listing Authority on 17 November to delist its stock units and confirmed earlier that delisting would take place on Wednesday.

A spokesman for the company said: "Having regard to the current level of the free float and the small volume of stock units traded on the London Stock Exchange, the cost and complexity of this dual listing are no longer justified."

The company said it was undergoing financial restructuring and was in advance talks with a potential institutional investor.