Shares in English winemaker Gusbourne plummeted by over 34 per cent this morning following the announcement that it is considering delisting from London’s junior stock market, AIM.
The company revealed to the London Stock Exchange that it had received a request from majority shareholder Lord Ashcroft for a meeting to discuss the possibility of going private, as reported by .
Gusbourne, listed on AIM since 2012, has been in a state of uncertainty since last July when Lord Ashcroft initiated a "strategic review" of the company’s options, including a potential sale.
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This strategic review has now concluded, with Gusbourne ending discussions with other parties and confirming it has received no further approaches.
A meeting to discuss the possible delisting will be convened in no less than three weeks, in accordance with the Companies Act 2006. If Gusbourne does delist from AIM, it would join a growing number of companies who have exited London’s junior market in recent years.
Last year saw just under a hundred companies delist from AIM, the highest number in 23 years, leaving AIM with its smallest roster of firms since 2001.
The market also witnessed a lack of new entrants, with IPOs totalling just 11 last year, matching the figure from 2023 and falling below the 13 recorded during the 2008 financial crisis.
Gusbourne was established in 2004 by Andrew Weeber and was bought by Lord Ashcroft in 2013 for £7m. Weeber kept a 13 percent stake and took on the role of non-executive chairman in 2013, a position he held until 2023.
Ashcroft holds more than 40m shares in Gusbourne, which equates to 66.8 per cent of the company. Besides his majority share in Gusbourne, a firm owned by Ashcroft holds a £20m long-term secured deep discount bond.