1st Jul 2019 09:59
(Alliance News) - A group of London's AIM market listings had their shares suspended on Monday following the failure to publish 2018 results on time.
Under AIM rules, companies had until the end of June to release their financials for 2018.
Those suspended are life sciences investor Amphion Innovations PLC, IT services provider IDE Group Holdings PLC, pallet maker RM2 International SA, and cybersecurity firm Defenx PLC.
RM2 noted the suspension, saying talks with potential lenders are ongoing, and without such funding it will not be able to publish results. The company had warned on Wednesday last week, two days before the deadline, that it would not be able to meet the deadline.
In its own statement, Defenx said it is in the process of finalising the audit of its results and will publish them "as soon as possible".
There were no statements from Amphion nor IDE, but Amphion did warn Thursday last week it would not meet the deadline given cash constraints, with debt well above current assets.
IDE did actually publish results on Friday last week, but they were not audited, and IDE said it would work to get audited figures out in early July. The company's pretax loss more than doubled, with revenue falling 24%.