Seeking potential listing on TISE
■ ECR has proposed the potential listing of its wholly-owned subsidiary Elite
UK Commercial Holdings Limited on The International Stock Exchange
(TISE).
■ Successful TISE listing lowers income tax rate from 19% to 15% and eliminates capital gains tax in the UK, enhancing ECR’s distributable income,
in our view.
■ Reiterate Add with a higher DDM-based TP of £0.83.