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(Sharecast News) - Exploration and production SDX Energy revealed on Friday that it will look to delist from London's AIM market and become a private company.
"The considerable cost and management time and the legal and regulatory burden associated with maintaining the company's admission to trading on AIM are, in the board's opinion, disproportionate to the benefits of the company's continued admission to trading," said SDX.
SDX pointed to the considerable "costs and burden" of maintaining a public listing, as well as limited liquidity in its shares and access to better funding opportunities as a private entity as the reason behind its decision.
As of 1010 GMT, SDX shares had sunk 53.68% to 0.88p.
Reporting by Iain Gilbert at Sharecast.com
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