On 16 July, the Malta Financial Services Authority (MFSA) through the Listing Authority announced suspension of trading in the shares of Loqus Holdings plc with effect from today. This suspension was brought about by the Company’s failure to publish its financial statements within the time-frames stipulated in the Listing Rules. The suspension is valid for ten working days unless Loqus publishes the respective financial statements during this period. Should the Company fail to publish its financial results by the end of the 10-day suspension, the Listing Authority may consider extending the suspension of trading by a further period of 10 working days.
This action is in line with a notice issued by the Authority last Friday 13 July, introducing the suspension of trading of instruments (bonds or shares) where the Issuer fails to adhere to the financial statement publication deadlines.
The latest announcement by Loqus Holdings plc was issued on 2 February 2012 stating that the 30 June 2011 year-end results would be issued by the end of March 2012.