Deltex Medical Group PLC - Chichester, England-based medical equipment supplier - Announces plans to cancel its AIM listing as its ‘cost base remains too high’ and the regulatory environment is ‘onerous’. Explains listing costs of £0.2 million are around 10% of firm’s cost base. ‘Believes that these costs are disproportionate to the limited benefits that admission provides to the group and its shareholders’. In addition, Chief Executive Officer Andy Mears intends to step down ‘to pursue other opportunities’. Deltex says Finance Director Natalie Wettler will succeed Mears as CEO once the cancellation from AIM has taken effect, at which point Mears will leave the company. Meanwhile, Deltex says it made good progress in 2024, noting that revenue increased by around 17% on-year to £2.1 million from £1.8 million. Adds that its TrueVue monitor ‘was promoted aggressively - both in the UK and internationally - and revenues from this new product are beginning to grow’. Also says it has ‘optimised’ the manufacturing processes associated with the TrueVue monitor, and that Deltex’s competitive backdrop ‘also appears to be improving’ due to ‘accumulating evidence’ that competing systems ‘do not provide clinicians with the critical data that they need to optimise patients’ haemodynamic status’.
Current stock price: 0.041 pence, down 49% in London on Thursday
12-month change: down 76%
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