Chairman Roger Allard, who controls around 60% of the cruise and tour operator, told TTG he was still weighing up his options.
It comes after All Leisure released its annual results earlier this week, which revealed it had unexpectedly returned to profit, but that it was considering delisting from the Aim stock exchange.
“We’re just looking at it,” Allard said. “Obviously as a public company we have to [notify] the market first if we’re thinking about anything.
“It made sense when we came out with our results [on Monday], which were a bit better than expected,” he said, “[but] nothing has happened since then”.
For the year to the end of October 2015, the group swung to a pre-tax profit of £0.2 million from a loss of £7.2 million in 2014. Revenue was down 8.4% to £127.3 million.
The announcement was proceeded by a sharp decline in the share price, which fell to a low of 1.38p before rallying to close on Tuesday at 2.13p.
Allard admitted to TTG that he would consider selling the company, although he insisted nothing was imminent. “All my assets are up for sale. They always have been. We’re not talking to anybody at this moment in time.
“The share price will be what it will be, I can’t influence that. You expect when you announce a [possible] delisting the share price will go down,” Allard added.
All Leisure operates a number of cruising and tour operator brands including Travelsphere, Just You, Voyages of Discovery and Swan Hellenic. During its 2015 financial year, it faced a number of geopolitical problems in some of its destinations.
Bookings to Egypt, Turkey and Cyprus were heavily impacted, while Black Sea cruise itineraries to Crimea are currently off limits. Paul Scott, small caps editor at Stockopedia, said delisting from the Aim market was not an uncommon event.
“I suppose if they can’t use the listing to raise more money, and there’s little liquidity in the shares, then [there is] no point in incurring all the ongoing costs and hassle of a listing,” he said. “Shareholders have had plenty of time to get out, as the newsflow has been pretty dire for a long time.”
