By Cristina Gallardo
Proton Motor Power Systems said it plans to delist from London's Alternative Investment Market.
The electric hybrid systems design and manufacturer said Monday that it intends to cancel its AIM listing and register as a private limited company, subject to approval of 75% of its shareholders.
A vote will take place during a general meeting on Feb. 7, it said.
In August, the company warned that its main lender would only support its working capital requirements until the end of 2024, and said it was trying to accelerate discussions with other potential sources of finance.
A total of 92 companies delisted from AIM in the year to Oct. 15, according to the accountancy group UHY Hacker Young.
Write to Cristina Gallardo at cristina.gallardo@wsj.com
(END) Dow Jones Newswires
January 20, 2025 02:21 ET (07:21 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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