Dental Firm 3D Diagnostics to cut Costs by Abandoning Stock Exchange Listing
Dental firm 3D Diagnostics has announced plans to cease trading on the AIM (Alternative Investment Market) in a bid to cut costs.
The Dundee-based firm started trading on the AIM less than two years ago but company executives have confirmed that they can no longer “justify” the cost of being listed on the market.
The company has announced plans to cut costs significantly, including reduced salaries and job losses. Chief executive Graham Lay and financial officer Oliver Cooke have agreed to salary cuts of 60 and 80 percent respectively. The chairman, David Snow also waived his annual bonus and other members of staff have taken a 25% pay reduction.
The cost-cutting process has been launched despite slight increases in sales figures for the firm’s flagship product and subsidiary, the CarieScan.
3D has enough funds to continue operating, but bosses confirmed that they would be looking into ways to further increase revenue.
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