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LONDON - MOH Nippon PLC announced Tuesday that trading of its shares will be temporarily suspended from August 1 as the company will miss the regulatory deadline for publishing its annual financial results.
The company said it will not be able to release its audited financial statements for the year ended March 31, 2025 by the July 31 deadline required under market regulations. MOH Nippon expects to publish the results by August 31.
According to the company’s statement, the delay stems from auditors at MacIntyre Hudson (NYSE:HUD) LLP requiring additional information regarding going concern considerations and the appropriateness of a discount rate applied to a guarantee deposit.
The deposit in question was made by Minnadeooyasan-Hanbai Co. Ltd. to Toshi-Souken Invest Bank Inc. in relation to a Joint Business Agreement that began January 1, 2024.
The Financial Conduct Authority will temporarily suspend MOH Nippon’s listing on the Official List beginning at 7:30 am on August 1. The suspension will remain in effect until the company publishes its financial results.
The announcement was classified as inside information under Article 7 of EU Regulation 596/2014, which forms part of UK domestic law following the European Union Withdrawal Act 2018.
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