News

Hardide suspended over "corporate governance" issue

01 April 2008 11:22:00

Aim-listed metal coating technology specialist Hardide today suspended its shares over an unspecified issue of corporate governance.

In a very brief statement, Hardide said it "had been suspended with immediate effect, pending investigations into a corporate governance issue. It is currently unclear how the investigations will affect the financial outlook of the company."

An further announcement is expected soon and the suspension is only expected to temporary,ources said.

The firm reported a loss after tax of £1.79m for the year ended 30 September 2007, up from £0.9m the year before, which it put down to investment in its US manufacturing facility and the weak dollar. It added, though, it had traded profitably in the UK in the first quarter and aimed to make a profit for the full year.

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