Taihua PLC seeks shareholder approval to delist its shares from the London Stock Exchange.
The company seeks to delist due to the lack of investors for its businesses and current market conditions. The board believes that Taihua's status as a listed company is making it difficult to attract any or meaningful equity investments.
The last day of trading of the company's shares is expected to be May 5, with the cancellation of shares expected to become effective May 8.
In connection with the delisting, Nicholas Lyth and Chong Cao will resign from the board.
After the delisting, Taihua will operate as a private limited company.