The Stock Exchange announced yesterday that it was suspending FNCU Venture Capital Company Ltd with effect from Monday and until further notice. The Exchange said that FNCU was being suspended pursuant to Stock Exchange Rule 601(5), which deals with listed companies that submit their audited financials late.
"FNCU has to date failed to submit audited annual financials for the year ended December 31, 2010. These statements are now in excess of 90 days overdue and at the June 9 board meeting, a decision was taken to suspend trading in the shares of FNCU after June 30 pending the receipt of their financials," said the board of the Exchange in a statement.