Dyoll Suspended

Posted: March 22, 2007 at 12:00 am

JAMAICA STOCK EXCHANGE SUSPENDS DYOLL GROUP LTD.

 

 

(KINGSTON, MARCH 21, 2007): Effective March 22, 2007, the Jamaica Stock Exchange will suspend trading in the shares of Dyoll Group Ltd. as a result of its non-compliance to Stock Exchange Rules.

 

 

“It is in the best interest of shareholders and all stakeholders in the stock market, for the Jamaica Stock Exchange, to suspend trading in the company’s shares at this time,” says Mrs. Marlene Street-Forrest, JSE’s General Manager.

 

 

“The Stock Exchange has had dialogue with Dyoll’s Chairman Damien King who has indicated that the company will be working to ensure an early lifting of the suspension” the General Manager says.

 

 

The company has also been unable to finalize its unaudited financial statements for the quarter ending December 31, 2006 and to retain the services of an auditor to begin the audited statements for its year-end 2006 because of a lack of money.

 

 

Earlier this month, Dyoll had informed the JSE and its shareholders that since December 15, 2006, the company had been experiencing “severe cash flow” problems and had been unable to meet its financial obligations.

 

 

The JSE suspended the company from trading on February 15, 2005 with resumption taking place in October of that year after representation from the Dyoll Board, and the publishing of the firm’s unaudited six-month results.

                                                            —30—

 

 

CONTACT:    

Marlene Street
Forrest

Marlene Street
Forrest

TEL:                 (876) 967 3271

FAX:                (876) 967 3277

Leave a Comment