Brighton Pier Group shares plummet on plans to go private
By Benjamin Chiou
Date: Wednesday 02 Apr 2025
(Sharecast News) - Brighton Pier Group has announced plans to delist from AIM, saying it is in the best interest of the company and its shareholders, causing shares to plummet on Wednesday.
The leisure and entertainment business said "persistent challenging trading conditions" over the past several years have been compounded by the looming increases to employer contributions to national insurance and hikes in the minimum wage, as well as high interest rates and surging energy costs.
While the company has attempted to save money, dispose of underperforming assets and limit its investment, continued challenges led to a review of its strategic options.
BPG said that the costs and regulatory burden of being listed on AIM, along with a lack of liquidity in its shares and market volatility, have led to its decision to delist. Meanwhile, being a private company should give it more flexibility to "take and implement decisions more quickly".
BPG, which will be seeking shareholder approval for the proposed cancellation of shares, said shareholders are "not required, if they do not wish, to dispose of their ordinary shares in any manner".
However, that didn't stop the stock from plunging 56% to 7.56p by 0854 GMT.
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10 Lower Thames St,
London EC3R 6EN