Women's fashion retailer Monsoon said yesterday it would go ahead with moving its listing to London Alternative Investment Market (AIM), despite opposition from minority shareholders.

The company, which controls both the Monsoon and Accessorize chains, said last week the level of publicly-controlled shares in the company had fallen below the 25 per cent minimum required to remain on the London Stock Exchange.

Stoneycroft Ltd, the investment vehicle of the family of owner and founder Peter Simon, now controls 92.5 per cent of shares following a recent offer to up its stake in the retailer by 20 per cent.

However, Stoneycroft's net offer of 130p per share was considered inadequate by many minority shareholders.