AIM, the London Stock Exchange’s market for small and medium growth companies, today issued a notice cancelling trading of United Kingdom-based transformer oil rerefiner Hydrodec’s shares because of its failure to meet a deadline for concluding a company audit. Trading of Hydrodec’s stock had been suspended since Oct. 1.
Although Hydrodec confirmed in a March 31 press release it had reached agreement on a $6.8 million refinancing package for its Canton, Ohio transformer oil rerefinery and assets, Hydrodec said it remained unable to conclude its audit for the 18-month period since June 2020. Factors cited including the ongoing impact of the pandemic and the company’s financial constraints.
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