Shares in 4GLOBAL PLC (AIM:4GBL) crashed 50% on Wednesday after the sports data company announced plans to delist from London’s AIM market and re-register as a private limited company.
It cited high costs, limited trading liquidity, and failed efforts to raise fresh capital as reasons for the move.
The company, which provides data and technology to sports and wellness organisations, said maintaining its AIM listing cost around £500,000 annually, money it believes could be better used to support its push into North America and other markets.
Attempts to raise equity funding were unsuccessful, and the group faces refinancing deadlines on its debt later this year.
Low share liquidity and poor market visibility were also key factors in the decision.
A shareholder vote on the proposal will take place on 25 June, with the delisting set for 7 July if approved. A matched bargain facility will be offered to support trading post-cancellation.
The stock fell 10.89p to 11.11p.