Nanoco Group PLC (NANO.L), a nanotechnology company based in the UK, on Wednesday announced that it intends to delist from the main market of London Stock Exchange to reduce operating costs and allow for greater resource, before re-registering as a private limited company following cancellation.
On the LSE, the stock was trading 54.68 percent lower at 3.10 pence.
The Board has decided to seek Shareholder approval for the proposed cancellation of the Ordinary Shares at a general meeting to be held on June 19.
If the cancellation resolution is passed, the last day of trading is expected to be July 17, and the day for cancellation will be on July 20.
The company expects the cancellation to result in a further annual cost savings of 0.7 million pounds, which will extend its cash runway, with a view to being break even in the medium term.
According to the firm, the reasons for delisting include share price volatility, reducing the burden of covering operating costs, and limited liquidity. Furthermore, the company believes that it will be able to make strategic decisions more efficiently than a publicly listed company.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.