Overview
- Devolver disclosed on Thursday that it will ask shareholders to vote at the AGM on September 8 on a proposal to delist from London’s AIM and that trading would cease on September 16 if the vote passes.
- The company proposes a cash tender offer of up to $5.0 million to qualifying holders and says delisting would save about $1.6 million a year in listing costs.
- Since its November 2021 IPO at about £694.6 million, the stock has collapsed to roughly £34.6 million in market value, a fall of roughly 90–96 percent, which the board calls a persistent valuation disconnect.
- Devolver says its operating results improved through 2025 and that a June 2026 trading update showed revenue growth of more than 60 percent year-on-year, yet the share price has not reflected those gains.
- If approved, the move will reduce public liquidity and reporting obligations while giving management more discretion over capital use and strategy, so shareholders will weigh the immediate cash return and cost savings against lost transparency and market access.