YuuZoo to delist from Jul 12: SGX RegCo
Trading in the stock has been suspended since March 2018
SINGAPORE Exchange Regulation (SGX RegCo) has directed the delisting of YuuZoo Networks Group, which will take effect at 9 am on Friday (Jul 12).
The company was previously known as YuuZoo Corporation.
Shares of YuuZoo have been suspended from trading since March 2018, and the company has not released any financial report since Feb 14, 2019, SGX RegCo said in a bourse filing on Monday.
“The company has not since then submitted any acceptable nor satisfactory proposals to SGX RegCo for the purpose of trading resumption,” the frontline regulator added.
“Based on public records, the company is dissolved.”
Former YuuZoo chief executive James Matthew Somasundram was in June fined S$35,000 for negligence in relation to overstating revenue.
Warrants of arrest have been issued against four other individuals allegedly involved in the matter. The quartet are currently out of Singapore and have refused to return, the Singapore Police Force said in February.
They are then-chief executive and chairman Thomas Zilliacus, then-chief financial officer Michael Parker, as well as Anthony Williams and Ozi Amanat, who were independent directors at the time.
An Interpol Red Notice has also been issued against Zilliacus, who made headlines last year when he entered into – and subsequently withdrew from – the race to purchase English Premier League football club Manchester United.
Copyright SPH Media. All rights reserved.
