Asimilar Group PLC - London-based investment firm focused on technology investment opportunities in big data, machine learning, telematics and internet of things - Says it will suspend its shares from trading on AIM and AQSE from Monday, as it will fail to meet the reporting deadline for its audited annual results for the year ended September 30."
The board has been working hard with the auditor to clear all outstanding issues, however, the auditor requires additional time to complete all audit formalities," it says. The delay is partly due to an "exhaustive" review process of independent third-party valuations on some of the firm's unquoted investee companies.
The suspension will be lifted once the results are published, which it expects to be "no later than mid-April".
Current stock price: 1.42 pence, down 32% on Friday
12-month change: down 94%
By Elizabeth Winter, Alliance News senior markets reporter
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