Lamprell has applied to the Financial Conduct Authority (FCA) to be suspended ahead of delisting.
The company said it had been impossible to complete its review of its financial results by September 30, which was the last date by which this was allowed.
Lamprell had previously said it planned to cancel its listing on London’s main market. It expects the cancellation to take place by October 25.
The company is in the process of selling itself to Thunderball Investments, which is owned by Blofeld Investment Management and AlGihaz Holding.
As of September 5, Thunderball held 45.18% of Lamprell. Another 5.39% of the Lamprell’s shares had committed to accepting the proposal.
As part of the plan to takeover Lamprell, Thunderball said it intended to cancel Lamprell’s London listing. The offer went unconditional on August 26. Lamprell held an EGM on September 26, receiving overwhelming support from shareholders to delist.
The company is encouraging its shareholders to accept the Thunderball offer. This remains open until October 21. Once the company is private, it has said, its liquidity and marketability of shares, and disclosure obligations, will be significantly reduced.