23rd Mar 2016 14:32
LONDON (Alliance News) - DQ Entertainment PLC said its shares will be cancelled from trading on AIM on Thursday, after it failed to find a replacement nominated adviser.
The animated content producer and distributor's former nomad Allenby Capital Ltd resigned in early February, leading to the suspension of shares later that month.
DQ said it approached a number of prospective future nomads, but none have consented to act until two issues at the company have been resolved.
The first issue relates to the alleged change of control and possible event of default under the terms of the bonds issued by certain of DQ's subsidiaries, the company said.
The second issue relates to the requisition of a general meeting to propose resolutions to appoint Anil Chintapalli and Suresh Chitturi as directors of the company, and the removal of Sundar Srinivasa Raghavan and Rashida Adenwala as directors.
"The directors of the company are fully committed to compliance requirements, and are working towards creating an alternative platform for facilitating trading in the company shares. Further announcements in this regard shall be made by the company in due course," DQ said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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