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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.