Aim shares suspended after results delays

29th Jun 2009 16:24

A number of AIM companies have seen their shares suspended today as they fail to publish their results for the year ending December 2008.Metic Group said due to the delays caused by the ongoing restructuring activity, its full year results will be issued no later than Wednesday 8th July 2009.Trading in the shares of Inveresk has been suspended because the directors of the paper maker are unable to sign off the company's accounts until its legal dispute with Tulius Russell Papermakers is resolved.Meanwhile, promotional merchandise firm Altitude has delayed the republication of its final results, which will take a further 2-3 weeks. Following the departure of the CEO Craig Slater and Finance Director Tim Sykes, it commenced with auditors KPMG a full review of the preliminary results for the year ended December 31st 2008.It said the review identified material (but not cash-related) differences between the actual results and the preliminary results published on 17th March 2009. The new management said it was not possible to release its final results before the end of the month and therefore the shares have been suspended.US wine specialist Cosentino Wines will be unable to publish its final results due to ongoing refinancing discussions, while property fund firm WestCity's postponement is due to delays in auditing of a German subsidiary. Other suspensions today for not publishing annual results include TEP Exchange, Company Health, Amberley and Equest Investments Balkans.