The board of Davenham Group plc has failed in its attempt to have the firm de-listed from the AIM stock market.
At a general meeting held on Friday, the resolution to de-list was not approved by 75% of shareholders (whether in person or by way of proxy), necessary for it to succeed.
Total votes in favour were 6,375,222 (67.52% of the total votes cast), while total votes against were 3,066,289 (32.48% of the total votes cast).
Following a strategic review, the board said in July that it was likely there was no value for ordinary shareholders in the company and that de-listed would be a sensible measure.
Customers of Davenham Trade Finance, Davenham Factors that are worried about their trade accounts should contact Phillip Evans in the business finance team