Back in February Sharemark announced that it was offering free admission to any companies wanting to make the switch from PLUS, saving an initial fee of £1,950 that comes with joining.

The news came after PLUS Markets revealed that it was speaking to interested parties with regards to a sale, but has failed to attract any new suitors.

While companies that were interested in making the move were subject to the standard quarterly fee of £1,250, Sharemark does not share PLUS’s requirement for trading companies to possess an adviser.

Sophie Murra, manager of Sharemark, says, ‘A few companies made contact following the announcement of the offer but we have no firm commitments yet and don’t expect to do so before there is further news in regards to PLUS.’

Despite not managing to lure any companies away from PLUS, formerly AIM-listed MDY Healthcare has joined Sharemark.

The sector specialised investing company will now continue to offer a share dealing facility for investors without the costs and regulation involved in trading on a more senior market.

Murra adds, ‘MDY Healthcare’s decision to join Sharemark demonstrates the ability of our market to provide a cost effective alternative for senior market delists, allowing shareholders to continue without restriction in the company’s shares.’

In 2010 PLUS Markets decided to overhaul its strategy and senior management team and refocus its efforts back on the UK market after suffering losses of £8.3 million in 2009.

On 17 April PLUS Markets announced an update in its formal sale process, which began on 3 February, and said the company had received a number of indicative proposals.

A statement read, ‘Potential offerors have been provided with access to management and a detailed data room. The board hopes to be in a position to make a further announcement in the coming weeks.’