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Propell Holdings Ltd. ( (AU:PHL) ) has shared an announcement.
Propell Holdings Ltd. has applied for voluntary delisting from the Australian Securities Exchange (ASX), citing the board’s view that delisting aligns with shareholder interests due to limited trading liquidity and the potential for cost reductions. The delisting is also expected to provide the company with greater strategic flexibility in funding and operational decisions. Shareholder approval is anticipated in April 2025, with the delisting expected in May 2025. The move aims to decrease direct and indirect costs associated with maintaining a public listing, estimated to save up to $300,000 annually, and addresses challenges in raising capital in public markets.
More about Propell Holdings Ltd.
Propell Holdings Ltd. operates in the financial services industry, focusing primarily on providing a core SME financial platform. This platform caters to small and medium enterprises, offering tools and services to facilitate financial management and growth.
YTD Price Performance: -40.0%
Average Trading Volume: 197,230
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$3.34M
Find detailed analytics on PHL stock on TipRanks’ Stock Analysis page.