GNG – GEONG Int’l – suspended from trading

London South East reports that GNG’s shares were suspended from trading on AIM on Wednesday (http://www.lse.co.uk/AllNews.asp?code=36nral97&headline=UPDATE_Geong_International_Shares_Suspended_From_Trading_On_AIM)

The company late Wednesday said it faced an “unavoidable delay” in  providing some banking information, meaning its auditors were unable to sign off the accounts on time before the end of Wednesday, the last day the company had to post its interim results before being suspended.

“The board and the management will follow up with the banks as soon as  the Chinese national holidays are over on October 8, 2015 and will  provide the needed information to the auditors as soon as it is  ready,” it said.

Absolutely appalling. That’s the last we’ll hear from them, then. Game over.

Their nominated advisor, FinCapp, has resigned, causing the GNG to be suspended.

What a total disgrace AIM is. To think that the London Stock Exchange want to make it easier for Chinese companies to be listed.

Words fail me.

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About mcturra2000

Computer programmer living in Scotland.
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One Response to GNG – GEONG Int’l – suspended from trading

  1. Karl says:

    I feel the same way too about GNG and Chinese stocks in general, regardless of how cheap JQW and ACE currently look.
    After being lulled by the seeming cheapness of Chinese stocks and how a few work out (China Shoto) and so many go to zero, I just follow Geoff Gannon’s advice- avoid Chinese stocks.
    The more investors ignore them, the less attractive AIM becomes to such directors and eventually the dire Chinese IPOs will dwindle and only the quality companies will remain.
    This will be like a “market of lemons” (https://en.wikipedia.org/wiki/The_Market_for_Lemons), but it could take years for this feedback loop to reach the IPO-prospecting directors to not apply to AIM.

    Just avoid Chinese stocks.
    (I enjoy your blog and thank you for it).

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