Neometals Ltd (ASX:NMT, OTC:NMTAY, AIM:NMT)’s share price plummeted 22% on Friday after the ‘sustainable process technology developer’ announced its intention to delist from the AIM junior market.
Following the cancellation scheduled for 3 February 2025, Neometals’ shares will remain active on the Australian Securities Exchange (ASX).
Like many of its junior market counterparts, Neometals cited low levels of liquidity and high costs of maintaining a listing as reasons to remove its shares from AIM.
Neometals also cited “the considerable amount of management time and regulatory burden associated with maintaining the company's admission to trading on AIM, in addition to the ASX listing”.
Existing UK shareholders will have their shares swapped 1:1 with Australian shares.
The UK-listed stock was swapping for 3.3p each at the time of writing.