Circassia Pharmaceuticals plc's board plans to delist its ordinary shares from the London Stock Exchange's Main Market and list them on the Alternative Investment Market.

In order to delist from the Main Market, Circassia must seek approval from at least 75% of its shareholders in a general meeting, which is expected to take place on Jan. 4, 2019.

Shareholders at the general meeting will also vote on listing the company's securities on the Alternative Investment Market. If the resolution is passed the company's shares will begin trading on the market on Feb. 4, 2019.

U.K.-based Circassia Pharmaceuticals is a specialty biopharmaceutical company, which focuses on the development and commercialization of products for the treatment of asthma and chronic obstructive pulmonary disease.