View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
December 4, 1997updated 03 Sep 2016 9:00pm

METEOR LOSES LISTING AFTER PROBLEMS WITH ACCOUNTS

By CBR Staff Writer

Internet telephony and payphone operator Meteor Technology Plc, has resigned its listing from the UK’s Alternative Investment Market, and its application for listing on the less demanding Ofex electronic bulletin board was refused due to fundamental uncertainties in its accounts. The company has been in trouble since November 10 when its auditors, BDO Stoy Hayward, queried its reporting of 250,000 pounds in losses and claimed it should have reported 1.33m pounds in losses instead. Meteor Chairman, Daniel Wettreich, commented at the time that it was merely an accounting policy matter. But already by that time, the firm’s nominated AIM advisor, Butterfield Securities, had resigned, leaving Meteor with little alternative but to seek an alternative exchange. Two senior executives at the firm have since resigned.

Content from our partners
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business
When it comes to AI, remember not every problem is a nail

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU