Cel AI PLC (LSE:CLAI), the artificial intelligence software company that manages a treasury holding in Bitcoin, said on Friday that it intends to cancel its listing on the London Stock Exchange and move to the Aquis Stock Exchange Growth Market in September.
It said the switch was necessary to pursue its Bitcoin investment strategy, which it said had become impracticable under London’s current rules.
The company holds 5.28 Bitcoin, after selling 3.42 Bitcoin earlier this month, and plans to continue adding to its digital asset holdings after the move.
The delisting is subject to shareholder approval at a general meeting scheduled for 20 August. Cel AI will send out a circular with further details to shareholders on 4 August.
The last day of trading in Cel AI shares on the London Stock Exchange is expected to be 29 August, with the Aquis admission and delisting both taking effect from 1 September.
Chair Olivia Edwards said: "Our proposed move to the Aquis Stock Exchange Growth Market marks a pivotal step for Cel AI.
"By shifting our listing, we unlock the flexibility needed to execute our Bitcoin treasury strategy aggressively - an essential component of our long-term vision.
"This transition ensures we can fully pursue our strategic goals without the constraints of the current listing framework, strengthening both our balance sheet resilience and our ability to create lasting shareholder value."
The Aquis Stock Exchange Growth Market caters to smaller and fast-growing companies. Unlike the main London market, it is seen as having more flexible rules on investment strategies and corporate structures.