The move was announced in the group’s unaudited interim results for the six months ended 30 June 2018, released this morning, which revealed the group had conducted a review of the both the benefits and drawbacks of continuing the firm’s admission to trading in AIM. The process for cancelling the firm’s trading of its shares on AIM requires at least 75% of shareholders at a general meeting.

Kellan added it would engage with shareholders to discuss the possible cancellation and seek irrevocable undertakings to this effect, if applicable.

With regard to the Kellan’s performance over H1 2018, the group posted a 5% increase in year-on-year sales to £10.8m, compared with £10.3m in the same period in 2017. However, net fee income (NFI) remained flat at £3.2m.

While the group’s hospitality and leisure staffing business Berkeley Scott’s temporary business had grown year-on-year, this was offset by a decline for its permanent business, with overall NFI flat year-on-year. This trend was mirrored across the group’s accountancy staffing specialist RK, while Quantica, the group’s FMCG staffing specialist, posted a decline in NFI year-on-year.

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