Israeli kosher food specialist Gold Frost intends to take its bombed-out shares off AIM next month.

The company is headed by Zwi Williger and 76 per cent owned by Israel’s Nasdaq-traded G.Willi-Food International. Gold Frost, whose shares have lost 56 per cent of their value this morning, says trading in its shares is so limited that maintaining an AIM quote is no longer worthwhile. Apart from share purchases by G. Willi-Food, between June 2007 and this month only 10,000 shares have changed hands, representing a mere 0.019 per cent of Gold Frost’s capital.

Floated two years ago at 35p by broker and nominated adviser Corporate Synergy (now Blue Oar), Gold Frost initially appealed as a researcher, designer and distributor of dairy kosher foods, with a research and development facility for ‘kosherising’ chilled, frozen, dairy and other foodstuffs. The company serves Israel’s four leading supermarket chains and argues that its processes make its products low in fat and cholesterol, which could make them appeal to non-Jewish consumers.

However, early hopes have yet to be fulfilled. Shareholders will be asked to approve the delisting at a special meeting in Israel on 20 May and the shares, which reached 46p early on, now stand at 7.5p, down 9.75p this morning, valuing the company at £3.9 million.

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