2nd Jul 2018 13:27
LONDON (Alliance News) - Nine companies got their shares temporary suspended from trading on AIM on Monday after they failed to publish their annual report and accounts.
Rule 19 of the AIM Rules for Companies states that companies have to publish their report and accounts for the year to December by June 30.
Flowgroup PLC, Premier African Minerals Ltd, Herencia Resources PLC, Tau Capital PLC, The People's Operator PLC, Defenx PLC, Greka Drilling Ltd, Akers Bioscience Inc and 7Digital Group PLC all failed to publish their results on time.
Only The People's Operator, 7digital and Greka issued separate releases on Monday to explain the delay.
Mobile network firm The People's Operator said its board was unable to approve the report on time due to ongoing discussions with its sole secured creditor regarding the use of proceeds from the ongoing disposal of the its US business.
Digital music firm 7digital said its rapid growth for the last 18 months led to a "complex" audit process which the company is in the process of finalising.
Greka said it was unable to meet the deadline as a change in accounting personnel led to delays. It expects to publish them during the course of the current week.