Celadon Pharmaceuticals PLC - London-based pharmaceutical company which grows medical cannabis for the chronic pain market - Intends to seek shareholder approval for the cancellation of its shares trading on London’s AIM market and the re-registration of the firm as a a private limited company. Says the cancellation would take effect from August 8, and sets a general meeting for July 28 to seek approval. In a circular sent out ahead of the meeting, Celadon says reasons for the cancellation include stronger access to capital, listing and compliance costs, as well as public market undervaluation. ‘The chief executive officer believes that the public markets are not fairly valuing the company, and the [CEO] does not believe that this disconnect will change in the short-to-medium term,’ Celadon explains.

Current stock price: 13.40 pence

12-month change: down 82%

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