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Investing.com -- Merit Group, a U.K. based company, has announced plans to delist from the junior market in London.
The decision, revealed on Thursday, follows a comprehensive review of the benefits and drawbacks of its current market position. The company has cited high costs and liquidity issues as the primary reasons behind the move.
The firm also noted that the time and resources required to comply with regulatory burdens have been significant. Additional factors, such as market volatility, have negatively impacted the micro-cap stock.
The proposal to go private and cancel share trading was also influenced by a request from major shareholder Michael Ashcroft.
The proposed cancellation is not yet final and is subject to approval by shareholders.
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