Troubled Lookers has its shares suspended

Troubled Altrincham-based car dealership Lookers plc said on Wednesday it has requested that the listing of the company’s ordinary shares be temporarily suspended with effect from July 1, 2020, until the publication of its 2019 results.

In a stock exchange statement, Lookers said: “As announced on 8 June 2020,  the company and Deloitte LLP concluded that the additional procedures that they needed to perform to finalise the company’s audited financial statements for the year ended 31 December 2019 meant that it would not be possible for the company to publish the 2019 results by 30 June 2020.  

“As 30 June is the last date permitted for publication of the 2019 results under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (as modified by the temporary relief granted to all listed companies by the FCA on 26 March 2020), following consultation with the FCA, the company has requested that the listing of the company’s ordinary shares be temporarily suspended with effect from 7.30 a.m. on 1 July 2020 until the publication of the 2019 results.

“The company intends to request a restoration of its listing on publication of the 2019 results.

“The company’s priority and focus is the production of the 2019 Results at the earliest possible date.”

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