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Technology / AI and automation

OFFICE & ELECTRONIC MACHINE SHARES SUSPENDED SO THAT COMPANY COULD RESTATE 1986 FIGURES SHOWING LOSS

Turns out the reason that Office & Electronic Machine Plc asked for trading in its shares to be suspended briefly last week was so that it could restate its 1986 figures to show a pre-tax loss of UKP438,760 loss in place of a UKP1.54m profit: the loss arises from a charge to take on UKP1.3m of debt from its main distributor; the company also reveals that it planned to buy an import-export business for radio controlled toys from a director, and that the acquisition fell through.

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CBR Staff Writer

CBR Online legacy content.