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Totally PLC on Friday requested a suspension of trading in its shares on London’s AIM market with immediate effect, and said it intends to appoint administrators of its parent company. The Derby, England-based provider of healthcare, corporate fitness and wellbeing services said, following the completion of its strategic review, that ‘despite a concerted effort’, no solvent offers were made for the company. Totally noted that this related solely to its parent company, Totally PLC, and not to any of its trading subsidiaries. A further announcement will be made ‘in due course’ regarding the sales process for its remaining entities. Totally had launched the strategic review at the beginning of May, following a downgrade to its full-year forecast after a slower than expected ramp up of a recent contract win with the NHS and reduced operating margins. Its most recent financial year ended on March 31. The review had included options such as the sale of one or more subsidiaries, and the receipt of strategic investment. Later in May, the company said it had received ‘a number of offers’ for business subsidiaries, which it intended to consider and provide further updates ‘as soon as possible’. The company then in late May had said the sale of its subsidiaries was ‘the only realistic route for the group’. ‘The potential proceeds however, in the directors opinion, are unlikely to be sufficient to meet all future liabilities meaning there could be no value in the ordinary shares of the company or any likely return to shareholders,’ Totally said at the time. The Totally board will file a notice of intention to appoint Tim Vance and Sam Woodward as joint administrators on Friday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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