Active Energy Group PLC (AIM:AEG, OTCQB:ATGVF) said it intends to cancel its listing on AIM and enter a voluntary liquidation process after receiving no acceptable offers for its CoalSwitch business.
Discussions are still underway with some of these leads but if these terminate the board considers the appropriate course of action is for the company to seek shareholder approval to delist and liquidate.
Active Energy’s statement added that it will not be in a position to finalise its 2023 results prior to 30 June 2024 and, as a result, trading in the company's ordinary shares on AIM is expected to be suspended at 07:30 on 1 July 2024.
A general meeting has been called for 22 July for shareholders to approve the delisting after which it will start the liquidation process.
Any surplus funds will be distributed to shareholders said the statement, but unless it can realise a cash value for its assets, this is likely to be de minimus.