MediaCorp shares suspended
AIM-listed operator penalised after missing deadline for publication of annual accounts
Media Corporation has seen its shares suspended from the Alternative Investment Market (AIM) following a failure to meet the deadline for filing its accounts for the last financial year.
The former Purple Lounge operator, which liquidated its online poker subsidiary last year, had intended to change its accounting reference date from 30 September to 31 March, thereby changing the deadline for financial filings, however a statement today saw the company admit to its “failure to make the requisite filings at Companies House”.
Trading in the company’s shares have been suspended pending the publication of accounts for the year ended 30 September 2012, with the business pledging to publish these “as soon as practicable”.
MediaCorp has admitted it has been preparing for a “transitional” 2013, after last year saw the resignations of three different chief executives. Justin Drummond left in February, and was followed by long-serving board member Sara Vincent and Interim chief Adam Fraser-Harris before the end of 2012.
Current CEO Phil Jackson took over from Fraser-Harris in October, and has overseen the launch of the company’s Goal Millions product earlier this month, which he described as “a positive step forward”.