BREAKING: Helios Underwriting – more evidence of why its shares should be suspended
By Tom Winnifrith, the Sheriff of AIM | Sunday 5 November 2023
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
In my recent article “BREAKING: Helios Underwriting – why its AIM shares should be suspended NOW after howling schoolboy accounting blunder” I explained why Helios (HUW), which underwrites insurance at Lloyd’s of London, had a major issue. The issue was that it had prepared its accounts for the six months ended 30 June 2023 under UK GAAP as opposed to IFRS as required by the AIM listing rule paragraph 19. Helios explained the reasons for this as follows:
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