Argus: Ongoing Stock Trade Suspension
Argus Group Holdings Limited today [Sept 14] confirmed the voluntary suspension of trading in its shares on the Bermuda Stock Exchange, which took effect on August 2, 2010, is ongoing.
Argus says that this action was taken as a result of insufficient notice being given to shareholders regarding its Annual General Meetings due to an inadvertent administrative error.
Argus says they recognize that this administrative error should be corrected and say that on the advice of its legal counsel, they are actively pursuing steps to resolve this issue. Argus continues on to say that “Regrettably, the appropriate legal process necessary to remedy the matter has taken longer to complete than anticipated. This administrative matter does not affect the day-to-day operations of the company in any way and business continues as normal at Argus.|
Gerald Simons, President & Chief Executive Officer of Argus comments: “We recognise the concern that the suspension of trading in Argus shares causes. Complete information on the steps we are taking to resolve these issues will be provided within the proxy statement to shareholders in connection with the 2010 AGM, or earlier if possible.”
