Danish job board operator Jobindex (JOBNDX:CPH) announced that it is applying to have the company’s shares officially delisted from the Nasdaq First North Growth Market Denmark.

The last trading day for the company’s shares on Nasdaq First North is expected to be 30 June.

Kaare Danielsen, director of Jobindex, will submit a request for a voluntary unregulated public tender offer of DKK 1,900 (€255) per share to shareholders in Jobindex.

The company said it has not made active use of the capital market on Nasdaq First North for many years and does not expect to do so for an extended period in the future.

Jobindex stated, “The offeror owns over 9/10 of the shares and voting rights in the company and the number of shares that can be freely traded on Nasdaq First North is extremely limited, and thus spread and liquidity in the shares is also extremely limited, and there are increasing financial and administrative costs associated with continuing to be admitted to trading and official listing, and the company wishes to simplify the administrative tasks by delisting the company.”

For Jobindex shareholders, they have the choice to either accept the public purchase offer, which entails a premium of approximately 8.6% compared to closing price from 2 June and an award of approximately 9.7% compared to the last 12 trading days volume weighted average price; or continue unchanged as a shareholder in Jobindex after the last expected trading day on 30 June.

Jobindex A/S reported revenue for the first quarter ended 31 March of DKK 106.2 million (€14.2 million), a fall of 13.3% compared with the same quarter in the previous year.