Zhitong Financial App News, IDT INT'L (00167) issued an announcement that on 15 May 2023, the company received the following resumption guidelines from the Stock Exchange: (a) to publish all outstanding financial results as required by the listing rules and to resolve any audit opinions; (b) to prove that the company complies with rule 13.24 of the listing rules; and (c) to publish all material information for shareholders and investors to assess the company's position.
The Group expects to complete the sorting of financial and business-related accounts and payment of fees in October 2023 and is currently arranging to sort out the relevant information to be provided to the auditors as soon as possible. The company has been urging employees to make various preparations for the resumption of business and operations, and to communicate with the auditors to start the audit work, so as to start the audit work for that year as soon as possible. Specific audit services are expected to commence in October 2023 and will be completed in December 2023. We will maintain communication with auditors to speed up the audit process.
Since the suspension of trading, the Group has basically suspended its operations during the quarter, but plans to resume substantive operations as soon as possible to demonstrate compliance with the adequate business operation requirements under Rule 13.24 of the listing rules.
In addition, trading in the company's shares continued to be suspended.