AIM-listed Bulgarian Land Development is considering putting proposals to shareholders to cancel the company’s shares from trading on the junior stock market.
The board of directors will also consider making a tender offer to pay shareholders at or around the current share price.
This is to allow small shareholders to realise their full investment in the company.
The company’s shares were valued at 29p this morning and there has been no movement in its price since the announcement today.
If the delisting is carried out the tender price will be at a premium to the current bid share price of 26p.
The shareholders will be paid out of the company’s existing cash resources.
Bulgarian Land reported a loss of £1.75m in 2008 and its market capitalisation as of 10 July is £11.6m.
The company will make further announcements once it has finalised its proposals.