Trading Emissions PLC (TRE.LN) said Tuesday that it will delist from AIM after selling its remaining Italian solar subsidiary as it reported that it swung to a pretax profit in first half of fiscal 2018.
Trading Emissions, which invested in environmental assets and companies that provide services to reduce greenhouse-gas emissions, said that it will convene a shareholder meeting to approve cancelling it shares from trading on AIM and for a cash distribution to shareholders.
The company said de-listing will reduce operating costs and will make more cash available to distribute to shareholders, Trading Emissions said.
For the six months ended Dec. 31, Trading Emissions made a profit of 4.3 million pounds ($6.1 million) compared with a GBP202,000 pretax loss the year earlier, after selling two of its subsidiaries.
The company said its net asset value increased to GBP11.9 million, or 4.75 pence a share, at the end of December from GBP10.0 million, or 4.02 pence, at the end of June 2017.
At 0900 GMT, shares were up 0.33 pence, or 10%, at 3.56 pence.