Shares in Tadpole Technology were suspended from the UK stock exchange last week after the company failed to file its financial figures on time.
According to the UK stock exchange, Tadpole had a six-month deadline of 30 March to file its figures for its financial year ended 30 September 1996. Following its failure to produce the figures, the company was forced to suspend all trading in its shares.
Last week Tadpole requested a temporary suspension of trading pending publication of its annual report and accounts, postponed because of an unidentified transaction. Until the company is able to produce its results, its shares will re- main suspended.
Tadpole has previously suspended share trading following a prolonged period of poor financials. The Sparcbook laptop designer and manufacturer saw its shares plummet over a two-year period from about 400p to 10p. In the year to 30 September 1995, Tadpole made a #4.3 million pre-tax loss on a turnover of #23.9 million.
The share suspension has prompted analysts to speculate that the company is in need of additional funding and is looking for a white knight to come to its rescue.
Despite the introduction in December 1996 of Tadpole?s first 233MHz Alpha notebook, the Alphabook 1, the company?s figures have remained poor.
The manufacturer is expected to show an improved financial performance this year, but analysts predicted it will stay in the red, suggesting that Tadpole needs a cash-rich partner simply to restore stability.
A management team headed by Bernard Hulme was brought in last year, ousting Tadpole?s founder, George Grey.
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