FINANCIALS: InterQuest shares suspended on AIM

Specialist technology recruiter InterQuest has announced the temporary suspension of its shares on AIM.

The move follows an announcement, released late Friday, in which InterQuest revealed it expected to fail to complete the due diligence process necessary for it to appoint a new nominated adviser (NOMAD) and broker before a deadline that passed over the weekend.

The statement added that failure to appoint a replacement NOMAD and broker for investment bankers Panmure Gordon would see the firm’s shares suspended today, which is what happened.

The firm revealed it was actively working to engage a replacement and anticipated it would be completed within one month of the suspension of its shares on AIM.

InterQuest issued a warning earlier last week that it may not be able to appoint a successor to Panmure Gordon in time to meet the deadline.

NOMADs provide advice during the process of flotation, and throughout the time a business remains on AIM.

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