RE: They have 1 month to delist, then get big deals and relist17 Mar 2025 16:44
By delisting, Alpha Growth said it can pursue material acquisitions more efficiently and expects to seek a relisting on the LSE's 'Commercial Companies' category in the future. However, it cautioned there is no guarantee on the timing of a potential re-listing.
The company said it has also faced difficulties appointing a new auditor due to its status as a 'Public Interest Entity', with UK firms reluctant to take on new PIE clients under tighter Financial Reporting Council oversight.
Alpha Growth said: "The delisting will further reduce the risk for the first year of appointment as the company will not be a PIE for the upcoming accounting period and a number of prospective auditors have indicated that accepting the appointment will be easier following the delisting. This has further contributed to the decision to delist."
Alpha Growth expects its LSE exit to take effect from April 15, 2025. Its shares will no longer trade on the exchange, and it will no longer be subject to LSE listing rules or the UK Market Abuse Regulation. However, it will remain a public company and subject to the Takeover Code.