RE: Accounts17 Jan 2025 09:35
Yes, if a company listed on the **London Stock Exchange (LSE)** is suspended due to late submission of accounts, they are generally required to ensure that their accounts are up to date and filed before holding an **Annual General Meeting (AGM)**. This is because:
1. **Statutory Requirements Under UK Law**:
- UK law (e.g., **Companies Act 2006**) requires companies to lay their most recent audited financial statements before shareholders at the AGM.
- If accounts are not filed or available, the company may be in breach of statutory obligations, and holding an AGM without presenting accounts would not comply with the law.
2. **LSE Rules and Disclosure Obligations**:
- Under the **LSE Listing Rules** (if the company is listed on the Main Market) or the **AIM Rules for Companies** (if the company is on AIM), timely publication of audited accounts is a key requirement for continued listing.
- Suspension typically occurs when these rules are breached. To restore trading, the company must resolve the breach (e.g., by filing the overdue accounts). Without resolving this, the AGM could highlight ongoing non-compliance.
3. **Good Governance and Shareholder Rights**:
- Presenting financial statements at the AGM is a fundamental part of ensuring transparency and accountability to shareholders. Failing to have updated accounts undermines this purpose.
In summary, while regulations do not explicitly tie the lifting of suspension to the AGM, companies would generally be expected to file overdue accounts before the meeting. Failing to do so may result in further regulatory scrutiny or shareholder dissatisfaction.
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