RM2.L Share News (RM2)

(Sharecast News) - RM2 International's share plummeted more than 70% on Wednesday after the company said its shares were likely to be suspended as there is a strong likelihood it will be unable to publish its 2018 accounts by the end of June.The pallet manufacturer has been unable to finalise the audit of its 2018 financial statements or secure near-term funding, stating that it will continue discussions with potential lenders over the next few weeks.Consequently, its shares are highly likely be suspended from Monday next week until the audited results are published.The AIM traded company's cash balance at the end of May 2019 was $3.3m, while its expected monthly cash burn is approximately $2.3m, prior to any deferral of scheduled payments.However, RM2 said discussions for a large contract with a well-known multinational are promising and the company hopes to be in a position to announce a contract win in the near future.RM2 International's shares were down 73.45% at 7.30p at 1231 BST.