Proactive Investors - ReNeuron Group PLC (LON:RQE) said it would delist from AIM after it called time on City fundraising efforts to focus on the ongoing administration process.
In an update, the company said it was not in the best interests of existing shareholders to pursue a "highly dilutive" equity fundraise, given the limited funds identified and the terms offered by potential investors.
Instead, its administrators would continue to work with creditors to determine the company’s solvency and explore the possibility of exiting administration as a private business.
Should agreements with key creditors be secured, ReNeuron plans to continue operations with a reduced team, led by Iain Ross and Randolph Corteling.
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