Trellus Health plc (AIM: TRLS) said on Friday it has filed a notice of intention to appoint administrators after its ordinary shares were suspended from trading on AIM since May 8.
The AIM-listed healthcare group, which operates a digital platform for managing chronic conditions, stated the board resolved to move forward with the appointment due to insufficient funds to continue trading as a going concern. The notice was filed with Paul Zalkin and Tom Parish of Quantuma Advisory Ltd named as proposed administrators.
The company intends to complete the appointment within five business days, subject to statutory requirements and unless circumstances change. Trellus Health had previously notified investors of financial difficulties on August 12, 2026.
The board said the action is aimed at protecting creditor interests while the company works with restructuring advisers to pursue asset sales, including shares in its U.S. operating subsidiary, Trellus Health Inc. The board expects that any successful sale would result in no returns for shareholders.
The disclosure was made as inside information under Market Abuse Regulations (EU) No. 596/2014, as it forms part of UK domestic law.
