Proposed Cancellation of Admission
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Allergy Therapeutics plc
(“Allergy Therapeutics” or the “Company” or “Group”)
Proposed Cancellation of Admission of Ordinary Shares to Trading on AIM
3 November 2026 – Allergy Therapeutics plc (AIM: AGY), the fully integrated commercial biotechnology company specialising in allergy immunotherapies, today announces its intention to propose the cancellation of admission of its Ordinary Shares to trading on AIM (the "Cancellation") and re-register the Company as a private limited company (the "Re-registration").
Following consideration of the Company’s strategic direction and organisational structure, the Board of Directors have unanimously concluded that Cancellation and Re-registration is in the best interest of the Company and its shareholders. In reaching this conclusion, the Directors have considered the following key factors:
- Despite the Company’s positive commercial and operational progress, the challenging financial market conditions in recent years, combined with a limited free float and lack of liquidity of its ordinary shares, has negatively impacted the market capitalisation, which the Directors believe does not accurately reflect the Company’s value.
- The considerable ongoing cost of maintaining admission to trading on AIM, along with the significant amount of management time and regulatory burden associated with maintaining the Company’s AIM listing. The Directors believe the time and cost savings associated with the Cancellation could be better utilised for the benefit of the Company and its shareholders.
- The Directors are of the opinion that raising further significant equity through AIM would be challenging in the short or medium term and potentially may not be available at a valuation that is acceptable to shareholders, or at all.
The Cancellation and Re-registration will be proposed to shareholders through Special Resolutions at the Company’s Annual General Meeting. It is anticipated that the final day of trading of the Company’s Ordinary Shares on AIM will be approximately five business days after the passing of the Special Resolutions at the Annual General Meeting. Both of the Company’s major shareholders have expressed their support for the proposed Cancellation and Re-registration and have indicated that they intend to vote in favour of the relevant Special Resolutions at the Annual General Meeting. It is the intention of the Company to offer a matched bargain facility to allow shareholders the ability to trade in the Ordinary Shares following Cancellation.
Irrespective of the outcome of the proposed Cancellation and Re-registration, the Company intends to continue to explore a primary listing on The Stock Exchange of Hong Kong Limited in due course.
A detailed circular setting out the background, rationale, timetable, and implications of such a proposal will be sent to shareholders in due course alongside the Notice of Annual General Meeting. Any Cancellation would require the approval of not less than 75 percent of votes cast by shareholders, in accordance with Rule 41 of the AIM Rules for Companies.
Market Abuse Regulation
This announcement contains inside information for the purposes of the UK Market Abuse Regulation (EU No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018). The person responsible for arranging for the release of this announcement on behalf of the Company is Manuel Llobet, Chief Executive Officer.
For further information, please contact:
Allergy Therapeutics
Manuel Llobet, Chief Executive Officer
Shaun Furlong, Chief Financial Officer
+44 (0)1903 845 820
Cavendish Capital Markets Limited (Nominated Adviser and Broker)
Geoff Nash / Giles Balleny / Seamus Fricker
Nigel Birks - Life Science Specialist Sales
+44 (0)20 7220 0500
ICR Healthcare
Mary-Jane Elliott / David Daley / Phillip Marriage
+44 (0)20 3709 5700
allergytherapeutics@icrhealthcare.com
Notes for editors:
About Allergy Therapeutics
Allergy Therapeutics is an international commercial biotechnology company, headquartered in the UK, focussed on the treatment and diagnosis of allergic disorders, including aluminium free immunotherapies that have the potential to cure disease. The Group sells proprietary and third-party products from its subsidiaries and branches in nine major European countries and via distribution agreements in an additional four countries. For more information, please see www.allergytherapeutics.com.
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