The delisting of health recruiter Healthcare Locums (HCL) from the Alternative Investment Market (AIM) is expected to take place on 3 June.

In a statement to the Stock Exchange, Angel Acquisitions, the company set up to make an offer for the shares of HCL’s minority shareholders, says it has applied to AIM to cancel trading of HCL shares and that it expects this to occur on 3 June. 

Angel Acquisitions, which is controlled by ACE Holdco and Tosca Opportunity, HCL’s two largest shareholders, says it is going ahead with its plans to delist after it received acceptances of its 0.75p a share offer in respect of around 77% of shares.

Last month, Angel said that delisting was one of the main preconditions for it providing further funding for HCL.

The statement says that the cancellation of admission to trading of HCL shares “is likely to significantly reduce the liquidity and marketability” of any HCL shares that minority shareholders have not agreed to sell.

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