NetScientific PLC (LON:NSCI) has said it is looking to delist from AIM and re-register as a private company following a strategic review into its operations.
The firm, which invests in development-stage medical and healthcare businesses, said that it had concluded following the review that a revised strategy was required to reduce its central functions and costs “significantly” to enable as much of its remaining cash as possible be allocated to its portfolio companies.
READ: NetScientific says continuing to assess all remaining strategic options after closing formal sale process
The company also said it had failed to generate any interest in a possible sale or to elicit and offers for the firms in its portfolio, adding that its cash resources as of 31 December were £3.3mln.
Shares were down 44% at 4.5p.