Board issues halt Infrastructure India as shares suspended

The struggles with Infrastructure India (IIP) have continued as it has announced that following the director resignation announced on 12 July 2024, the board, which comprises two directors, is no longer quorate under the company’s articles of association and is therefore not able to operate effectively, with the powers of the directors limited to the appointment of additional directors or the convening of a general meeting for the purpose of making such appointment. The company is exploring the board composition and further announcements will be made, as appropriate, in due course.

Accordingly, the company has requested that trading in the company’s shares on AIM be suspended with effect from 07.30 a.m. today, 16 July 2024 pending, inter alia, the appointment of at least one additional director.

Notwithstanding the suspension of trading in the company’s shares, IIP will continue to make notifications as and when there are matters requiring disclosure in accordance with the company’s obligations. 

[Realistically, this company has no future. It should be permanently de-listed and liquidated.]

IIP : Board issues halt Infrastructure India as shares suspended