Nanoco Group (LSE:NANO) said Glass Lewis recommends shareholders vote in favour of the company's proposed cancellation of its London listing at the general meeting on 19 June.
The recommendation supports the board's plan to reduce operating costs and concentrate remaining resources on existing high-potential business areas, the nanomaterial production and licensing group added.
"We welcome Glass Lewis's recommendation, which reflects an independent assessment, and the Board remains confident that cancelling the listing is the right course to reduce costs and preserve capital while we focus on delivering value for shareholders," Liam Gray, interim CEO, said.
Both the Cancellation and the Re-registration resolutions require the approval of not less than 75% of votes cast and the meeting is scheduled for 10.30 a.m. on 19 June.
The company said shares would remain tradable through its Matched Bargain Facility after any cancellation and urged investors holding through nominee accounts to check platform voting deadlines, which are likely to be earlier than the proxy deadline of 10.30 a.m. on 17 June.
