26th Aug 2025 15:25
(Alliance News) - LifeSafe Holdings PLC on Tuesday reported that it may exit public trading, amid ongoing financial woes.
The Essex, England-based developer of fire safety products raised around GBP700,000 through a recent subscription of 23.9 million new shares. LifeSafe plans to launch another round of fundraising on Wednesday. This time, it will be a retail offer for up to 16.7 million new shares at 3.0 pence for a maximum total of GBP500,000.
According to the company, it is "currently working capital constrained" and needs a cash injection "to meet its current and future liabilities...through to the company becoming profitable during 2026".
LifeSafe noted delayed revenue from an exclusive distribution deal signed back in March, with proceeds now expected in financial 2026. The deal followed a pivot to wholesale and business-to-business advertising, as the firm tried to lower digital marketing costs.
LifeSafe stressed that urgent alternative financing will be required if the next fundraise does not complete. Failing any alternatives, the result may be a sale or administration process.
LifeSafe has gone as far as proposing to delist from London's AIM and re-register as a private company.
Among the reasons for cancellation were the "considerable annual cost" of maintaining the listing, difficulties in attracting "meaningful new shareholders" and LifeSafe's view that its current share price does not match its potential.
The company's shares traded down 11% at 2.90 pence on Tuesday afternoon in London.
LifeSafe is currently negotiating a matched bargain facility with JP Jenkins, a representative of Prosper Capital LLP, to help stockholders buy and sell their stakes.
The facility will be valid for at least 12 months after cancellation, which is expected on September 29, subject to at least 75% approval at a general meeting on September 12.
LifeSafe added that its board composition is likely to change following an exit from trading.
By Holly Munks, Alliance News reporter
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