Neometals (ASX / AIM: NMT)
Announced their intention to delist from the London AIM market, due to the cost of maintaining a listing , low liquidity, and the “challenging conditions for financing” in London.
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Neometals | ASX / AIM : NMT | |||
Stage | Production + development | |||
Metals | Titanium + Vanadium + lithium + nickel | |||
Market cap | A$53 m @ A$0.069 | |||
Location | Australia, Germany, Finland, USA | |||
Website | www.neometals.com.au |
Comment
I am not surprised to read that NMT are delisting from AIM, it makes sense given the low liquidity in the stock in London, and lack of investor awareness of the company on this side of the world.
Despite presenting in London with us several times, I haven’t read much about the company over here. Where was the follow through from the broker after listing here to raise awareness of the company?
The lack of broker follow through is a major reason for companies becoming unhappy at their AIM listing, and perhaps the reason why 92, (93 now) companies have delisted during 2024.
Neometals is wisely reducing its costs by delisting from a market where they have had virtually no promotional support, and as a result have to pay all the associated costs of the listing with little to no benefits.
AIM is quickly dying, city greed is killing it in my opinion.
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Neometals Announces Intention to Delist From the London AIM Market
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Neometals (ASX / AIM: NMT) announced their intention to delist from the London AIM market, due to the cost of maintaining a listing , low liquidity, and the “challenging conditions for financing” in London.
The company expands on its reasoning for the decision,
• The challenging conditions which have impacted the UK market since its admission to trading on AIM in 2022, which have made it challenging to raise capital in the UK.
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• The low levels of liquidity and trading volumes in Neometals’ shares on AIM, with shares represented by DIs accounting for less than 1% of Neometals’ issued share capital..
• The cost of maintaining admission to trading on AIM, including professional fees, listing fees payable and incremental legal, auditing and insurance fees..
• The considerable amount of management time and regulatory burden associated with maintaining the company’s admission to trading on AIM, in addition to the ASX listing.
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Disclosure
At the time of writing the author holds no shares in Neometals.
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