Gusbourne shares plunge 34% amid delisting plans

Shares in English winemaker Gusbourne fell over 34% following news that majority shareholder Lord Ashcroft is seeking to delist the company from London’s AIM market. Ashcroft, who holds a 66.76% stake in Gusbourne, has called for a general meeting to discuss this proposal after a strategic review concluded with no further transaction approaches. The company has been uncertain since last July when Ashcroft initiated discussions regarding a potential sale or merger. If Gusbourne proceeds with the delisting, it would join a growing trend, as nearly a hundred companies left AIM last year, marking the highest number in over two decades. Gusbourne has indicated it will comply with Ashcroft's request for a meeting, which must occur within 28 days. The company also reported a slight revenue increase but anticipates an adjusted EBITDA loss similar to the previous year.