ReNeuron Group PLC (AIM:RENE, OTC:RNUGF) said it would delist from AIM after it called time on City fundraising efforts to focus on the ongoing administration process. In an update, the company said it was not in the best interests of existing shareholders to pursue a "highly dilutive" equity fundraise, given the limited funds identified and the terms offered by potential investors.
ReNeuron Group PLC (AIM:RENE, OTC:RNUGF) said it is seeking potential new investors to enable the company to trade as a going concern following an exit from administration. However, there is a discrepancy between the amount it can pay existing creditors and the amount they are seeking, sad the statement.