20th Jun 2018 17:35
LONDON (Alliance News) - Flowgroup PLC said Wednesday its shares on AIM will be suspended from July 2 due to a delay in publishing its annual results.
The company is currently undergoing an audit and is unable to publish its annual results before June 30. Flowgroup has been in discussions with creditors "regarding the settlement of sums owed" since its sale of Flow Energy Ltd on May 1.
Flowgroup stressed that "no return is expected to shareholders in any future scenario".
The company has until November 1 to complete a reverse takeover under AIM cash shell rules if it wants to maintain its listing.
Shares in Flowgroup closed up 3.0% at 0.017 pence each Wednesday.