Allied Minds PLC on Friday posted a portfolio update and reiterated that it is considering to delist to reduce running costs.
The intellectual property commercialisation company explained that no notable interest has been found so far regarding its formal sale process.
It is discussing with shareholders whether to delist to reduce annual running costs by about $2.2 million per year.
‘The board remain of the view that there is substantial value to be realised within the portfolio of investments and that this can be achieved within a time frame of 18 to 24 months,’ Allied Minds added.
Meanwhile, the firm’s Federated Wireless arm has performed well in the first half, ‘with revenue growth in all segments delivering revenues for the period in line with the plan,’ it said.
Allied Minds shares were 3.5% higher at 10.87 pence each in London on Friday morning.
Copyright 2022 Alliance News Limited. All Rights Reserved.
