22nd Jan 2025 10:09
(Alliance News) - Tribe Technology PLC and Deltex Medical Group PLC plan to join the flood of companies exiting the AIM market in London.
Tribe in December had said delisting is needed to allow it to raise critically needed cash, while Deltex on Tuesday said the costs of maintaining its AIM listing is too high.
Both companies on Tuesday called general meetings for February 12 to ask shareholders to approve the cancellation of their shares and change into private companies.
Belfast-based Tribe develops fully autonomous reverse circulation drill rigs for the mining industry. Chichester, England-based Deltex offers proprietary haemodynamic monitoring technology, including ultrasound-based oesophageal Doppler monitoring.
Meanwhile, fashion retailer Quiz PLC noted that Wednesday will be its last day of trading on AIM, shareholders earlier this month having approved its own delisting.
Quiz also will re-register as a private company, under the name Quiz Ltd. A matched bargain facility for Quiz shares were be available on the JP Jenkins platform.
Other leavers from AIM so far in 2025 have been Webis Holdings PLC and Scholium Group PLC. There were 68 fewer companies on AIM at the end of 2024, according to AIM Journal, leaving 685 still quoted at the start of 2025. Some of the departures were due to takeovers, rather than delistings.
AIM is owned by London Stock Exchange Group PLC, which also operates the London Main Market but is increasingly focused on market data provision following its USD27 billion acquisition of Refinitiv in 2021.
Explained Deltex Chair Nigel Keen on Tuesday: "Following a careful review and, in particular, consideration of the costs directly and indirectly attributable to the group maintaining its admission to trading on AIM, the board has unanimously concluded that the proposed cancellation is in the best interests of Deltex Medical and its shareholders."
Tribe Technology shares were untraded at 0.050 pence early Wednesday in London. The stock is down 99% over the past year. Deltex shares were down 8.5% to 0.037p. They are down 78% over the past year. Quiz shares were down 13% to 0.63p and are down 89% over the past year.
LSEG shares were up 0.6% to 11,865.00p. They are up 29% over the past year.
By Tom Waite, Alliance News editor
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