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LONDON - Kanabo Group Plc, a company listed on the London Stock Exchange (LON:LSEG), announced today that it will face a temporary suspension of its ordinary shares from trading starting Thursday morning due to its inability to publish its audited annual financial report by the required deadline of April 30, 2025. The suspension will take effect from market opening at 7:30 a.m. on May 1, 2025.
The company cited its ongoing obligations to issue the Audited Report as the reason for the delay, without providing further details on the cause. Kanabo has stated that once the Audited Report is completed, it will be released to the market through a Regulatory News Service (RNS) announcement. Following this, the company will apply for the suspension to be lifted.
This development is considered inside information under Article 7 of Regulation 2014/596/EU, which remains part of UK domestic law following the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310).
The temporary suspension is a regulatory measure that is often employed when a listed company fails to meet its reporting obligations, which may include the timely publication of financial results. This ensures that all market participants have access to the same information and are not trading on incomplete or outdated data.
Investors and shareholders will be closely monitoring the situation for further updates from Kanabo, as the ability to trade shares is contingent on the company’s compliance with financial reporting requirements. The company has not indicated a specific timeline for when it expects to complete and announce its Audited Report.
The information in this article is based on a press release statement from Kanabo Group Plc.
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