The shareholders of Regenesis Group, the specialist short-term
asset finance provider, have approved a motion to cancel the
group’s shares on AIM (AIM: RGN).
It is expected that the cancellation will occur later this
month, on June 29.
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Last month, Regenesis chairman Marc Duschenes said that he
believed delisting from AIM would be “in the best interests of the
company”, after posting a pre-tax loss of £121,000 (€139,000) in
the year ending December 31 2008.
At its annual general meeting held earlier today (Monday), 99.5
percent of shareholders finally approved the cancellation of
trading on AIM. The delisting was conditional upon the consent of
at least 75 percent of votes cast.
The shareholders also unanimously reappointed Duschenes as
chairman.
Regenesis has suffered from not being able to secure long-term
funding in the last year, as Duschenes explained last May:
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By GlobalData“The flow of lending opportunities remained high, but the
willingness of lending institutions to provide onward longer-term
funding has reduced significantly.”
Jason T Hesse
