DG Innovate PLC – Bingley, England-based developer of sustainable mobility and energy storage technology – Plans to delist from the London Stock Exchange effective January 31, citing difficulty raising sufficient funds for its commercialisation strategy over the last 12 months and since coming to market in April 2022. Hits out at listing constraints and prospectus rules and notes a lack of demand for exposure to companies at its stage of development within the UK investor base. Directors do not foresee any near term catalysts to alter the challenging backdrop and conclude that the burden associated with its listing is disproportionate to the benefits.
Current stock price: 0.021 pence, down 73% on Tuesday afternoon in London
12-month change: down 91%
By Christopher Ward, Alliance News reporter
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