29th Sep 2015 09:18
LONDON (Alliance News) - Camkids Group PLC Tuesday said its shares have been suspended from AIM following the resignation of its nominated adviser and broker, Allenby Capital Ltd.
In accordance with AIM rules, if the company fails to appoint a replacement nominated adviser within one month, its shares will be cancelled.
Camkids added that Chief Financial Officer Ng Pei Eng has resigned from his post with immediate effect, as well as Non-Executive Director Jacques-Franck Dossin, the latter having opposed the financial compensation which the company proposes to pay to three distributors.
Back in August, Camkids announced that it had terminated its relationship with three underperforming distributors due to tough trading in China, and said that under the termination agreements it may have to purchase back the inventory held by the distributors for around CNY285 million and make contractual compensation payments totalling approximately CNY70 million.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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