Shares in Deltex Medical Group plc (AIM:DEMG) fell 50% following the announcement of a proposed delisting from AIM and leadership changes.
The company attributed its decision to delist to the high costs of maintaining its AIM listing, estimated at £200,000 annually, representing 10% of its unaudited 2024 revenues of £2.1 million.
Deltex aims to reduce costs and focus on its strategic goals, citing the burdensome regulatory environment and limited benefits of being publicly listed.
The company also announced that CEO Andy Mears will step down, with current COO Natalie Wettler set to assume the role after the delisting.
In early trading, the stock was off 0.4p at 0.4p, valuing the business at £758,000.