Crispr Therapeutics shares tumble after significant earnings miss
Investing.com -- Merit Group, a U.K. based company, announced its intentions to delist from the London junior market. This decision was influenced by the cost and liquidity problems the company is facing. The company’s shares experienced a 13% drop following the announcement.
The decision to propose the termination of its share trading and transition into a private company was announced on Thursday. This move follows a comprehensive review of the benefits and drawbacks associated with remaining on the market.
The decision also comes in the wake of a request from the company’s major shareholder, Michael Ashcroft, for a general meeting to discuss the potential delisting.
The company cited the significant costs and the time required to comply with regulatory obligations as primary issues. Market volatility was also mentioned as a factor that has had an impact on the micro-cap stock.
The company also pointed out that the current market conditions do not provide shareholders with sufficient opportunities to trade with meaningful volumes.
The proposed delisting is subject to the approval of shareholders. A general meeting has been scheduled for Feb. 25 to vote on the matter.
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