Everyman Media Group, the premium cinema chain, looks set to leave London’s public markets as director-shareholders signal support for the cancellation of its AIM shares.
Everyman’s shares were down 21% at the time of writing on Tuesday.
Three substantial director shareholders, Adam Kaye, Charles Dorfman and Michael Rosehill, who together hold 45.6% of the issued share capital through direct and indirect holdings, have told the Company’s independent and executive directors that they would support the cancellation of trading in its ordinary shares on AIM.
The Everyman board also believes additional shareholders representing around 11.0% of the share capital would back such a move.
With such a level of support for delisting, the board now thinks it appropriate to sound out key stakeholders and reckons it is likely the company will proceed to propose delisting to all shareholders.
Existing support for a delisting means Everyman could be the latest company to leave the dwindling AIM market.
The delisting news comes alongside a healthy trading backdrop.
For the 21 weeks to 28 May, admissions rose 23.1% to 2.2m and revenue climbed 26.5% to £58.5m, with adjusted EBITDA up 45.2% to £9.4m and market share up 80 basis points to 6.7%. The directors expect full-year performance to be marginally ahead of 2025, while noting some uncertainty given the economic backdrop and a Q4 that remains material to the year as a whole.