Scholium Group PLC, owner of Shapero Rare Books Ltd, on Monday cancelled its shares from trading.
The London-based holding company for retailers of rare books, art and collectibles announced its intention to delist back in November. Directors unanimously backed the proposal, which was approved by shareholders on December 18.
Scholium, which debuted on London’s junior market in 2014, said the cost of public status no longer outweighed its benefits, and was limiting acquisition growth.
Prior to Monday’s cancellation, the company highlighted a consistent trading discount. Its closing share price at November 27 represented a 52% discount to net asset value per share, which rose 4.9% in the first-half to 74.60 pence from 71.10 pence year-on-year.
Scholium predicted delisting could reduce overheads by at least £75,000 per annum. This would have represented a pretax profit rise of at least 25 per cent in financial 2024, Scholium estimated.
The trading exit follows a year of positive performance, with Scholium reporting a 30% revenue increase in the six months to September 30.
Scholium shares were last quoted at 40.00 pence each in London.
Copyright 2024 Alliance News Ltd. All Rights Reserved.
