Supercart eyes Aim suspension
Supercart said its established South African market during the key pre-Christmas period has been in line with management expectations, but it warned challenging US market conditions have resulted in slower than expected progress.
Supercart said its established South African market during the key pre-Christmas period has been in line with management expectations, but it warned challenging US market conditions have resulted in slower than expected progress.
The shopping trolley and basket maker said it is due to publish its accounts for the year to June 30th 2012, which are expected to be in line with management forecasts.
However, while the audit will be completed shortly, Supercart said it would not be in a position to publish the report and accounts before December 31st 2012, as required by the AIM Rules.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"In the event that the report and accounts are not published on or before December 31st 2012 trading in the company's shares will be suspended with effect from 7.30am on Wednesday January 2nd 2013, pending publication of the report and accounts," it explained.
Supercart said a circular has been sent to shareholders explaining the background to the proposed cancellation to trading on AIM and the reasons why the board considers this to be in the best interests of the company and its shareholders as a whole.
If shareholders do not approve the resolution at the General Meeting the shares will remain suspended pending publication of the report and accounts.
CJ
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
How much should I have in emergency savings?
When your boiler breaks or your car won’t start, you can find yourself paying a hefty bill. How much should you have in emergency savings to cover unexpected costs?
By Katie Williams Published
-
ISA investments by age: should I invest more in my stocks and shares ISA?
Stocks and shares ISAs are a great way to grow long-term wealth, but are they overlooked compared to cash savings? We look the average ISA investment by age and if you should have more.
By Dan McEvoy Published