Shares suspended as 7digital misses annual report deadline

Digital music company 7digital Group announced on Monday that it has not been able to publish its audited annual report and accounts for the year ended 31 December by 30 June as required by Rule 19 of the AIM Rules for Companies.

The AIM-traded firm said it was in the process of finalising what had been “a complex audit process” with new auditors, which it blamed on the rapid growth of 7digital in the last 18 months.

It said the results would be announced, and the accounts published, “as soon as possible”.

The board added that it remained confident about the company's trading as contained in the trading statement issued on 9 February.

“Because of the delay in publishing the annual report and accounts, dealings in the company's ordinary shares are temporarily suspended under AIM Rule 40 from 0730 BST on Monday 2 July 2018 until such time as the accounts have been duly published in compliance with AIM Rule 19,” the 7digital board said in its statement.

“Notwithstanding the temporary suspension of trading in the ordinary shares, the company will continue to make announcements as and when there are any developments that require announcement under the AIM Rules.”