SyQic's shares to cease trading on AIM on Friday

(ShareCast News) - Paid TV and on demand video provider SyQic's shares will cease to trade on AIM on Friday after it failed to raise funds needed before the end of 2016.The company's shares were initially suspended on 28 June when it failed to publish its accounts for the year ended 31 December 2015.On 7 November the company published its results for the year but its shares remained suspended due to an audit on the financial statements and concerns on it being dependent on trade receivables and its ability to raise future funds.SyQic announced on 15 December it would not be able to raise additional working capital before the end of the year.The company said it it will explore putting a trading facility in a placing for its shares.