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Auhua Clean Energy Shares To Be Suspended As It Seeks New Nomad (ALLISS)

Fri, 26th Feb 2016 08:22

LONDON (Alliance News) - Auhua Clean Energy PLC said Friday its shares will be suspended from Monday as it continues to search for a new nominated adviser.

The Chinese green energy company said it remains in talks with potential nominated advisers to take over from Grant Thornton LLP, which will resign its role on Monday, but that it will not be able to make an appointment by the close of play on Friday.

As a result, its shares will be suspended under AIM rules from Monday and will be cancelled from trading if it fails to appoint a new nominated adviser within a month.

The news sent shares in the company plunging 67% in early trade to 0.15 pence, the worst performer in the AIM All-Share.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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