Carbon emissions trader AgCert International
has announced that its shares have been cancelled from the
Official List of the London Stock Exchange at its own request.
The company said it had made the request because its appointed
examiner has concluded that a continued listing could jeopardise
the proposals being prepared to help the company resolve its
obligations and maintain an ongoing business.
AgCert said there is no prospect it will be able to operate
a viable business should the proposals not be approved by
all parties and successfully implemented.
Shares in the emission reductions trader were suspended on
Feb. 21 last, after AgCert said it had been unable to reach
agreement with all creditors and customers on the renegotiation
of contracts (Click
At that time, AgCert said it would file a petition for examinership
in Ireland, whereby the company is put under under the protection
of the High Court while a court-appointed examiner formulates
a scheme of arrangement with its creditors and members, allowing
the business to continue running.