22nd Nov 2018 10:58
LONDON (Alliance News) - Juridica Investments Ltd shares halved in value on Thursday after the company proposed to cancel its shares from trading on AIM and wind-up.
Shares were trading down 50% at 1.87 pence each, following the news.
The company, which invests in law suits involving businesses, will hold a general meeting on December 20 where shareholders will be asked to vote to approve the share cancellation. If approved, Juridica will delist on December 21.
The company said it believes the share cancellation represents "the most efficient and cost-effective method of realising the company's assets before proceeding with a liquidation".
Back in September, Juridica had said it was seeking to appoint liquidators as the benefits of winding-up the company were outweighing the costs of continuing its operations.