RE: Trading by Friday?8 Feb 2021 08:30
That’s for listing, we are already listed. All that is required is restoration to trading which takes up to 30 minutes.
As for requesting suspension (or continued suspension), the FCA has to believe that there is something preventing an orderly market in the shares. ONLY if they have reason to protect investors on this basis will a share be or remain suspended. The rule breach was deemed enough because without the financial statements the company has not released sufficient information into the market. That has now been satisfied.
We have been informed that the FCA are looking into the company (no formal investigation at the point the company released the last rns) and that is why the suspension is continuing. We know there have been allegations made by certain person(S) and the FCA would be negligent if they simply ignored these. SYME hasn’t done itself any favours in this respect with chipping and changing accounting reference date and accounting treatment of certain things - though I’m sure there must be reasons for this. So as far as we know this is continuing and we are aware of staff shortages at FCA partly due to covid.