Umuthi Healthcare Solutions PLC - South Africa-based technology-led healthcare - The company's shares were suspended on June 10 as a result of UK Financial Conduct Authority concerns regarding some Umuthi shareholders who were involved in a share exchange agreement prior to the company's admission to trading, not being able to trade all of their shares. This was due, in some instances, to share trading accounts not having been fully activated, Umuthi says.
On Thursday, additional shareholders raise concerns regarding external share exchange agreements entered into before the company's listing. Umuthi's board has gained legal advice and will look to address these concerns with shareholders and the UK Financial Conduct Authority.
In addition, company director Gert Viljoen was arrested in South Africa and has been released on bail. Charges relate to over-the-counter sales of Umuthi shares.
Company says that neither it or Viljoen had any control or involvement in the transactions.
Also, Umuthi announced the departure of Chief Financial Officer Philip van Huyssteen, to give the company an opportunity to find a more suitable candidate based in the UK.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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