LONDON (ShareCast) - Nautilus Minerals (Toronto: NUS.TO - news) shares plunged over 23 per cent on Friday after the company announced that it plans to cancel its AIM-listing from March 8th.
It made the decision on the basis of the lack of liquidity in the company's shares on AIM and the cost of maintaining the listing on the index.
"The board considers that the costs incurred to maintain the listing of the company's shares on AIM now exceed current and potential future benfits the company could obtain from the listing," the group said.
It will continue to be listed on the Toronto Stock Exchange.
Nautilus (NYSE: NLS - news) describes itself as the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits.
The share price fell 7.00p to 23p by 13:30.