2nd Dec 2015 09:24
LONDON (Alliance News) - Chinese e-commerce company JQW PLC saw its shares suspended on Wednesday following the resignation of its nominated adviser and broker.
Cairn Financial Advisers LLP resigned from the two roles amid the continued uncertainty about JQW's trading operations in the face of the suspension of its business-to-business website in China.
In September, the company said it had been fined CNY18,000 and handed a penalty of a one-month suspension after it was found to have violated Chinese advertisement law, advertisement management regulations, and laws prohibiting pyramid selling. Its operations have been suspended since then.
Shares in JQW have been suspended and will be cancelled from AIM if the company fails to appoint a new nominated adviser within one month.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.