Euronext, owner of the Amsterdam Stock Exchange, will delist six small companies. As a result, the shares of these companies can no longer be traded on the stock exchange. Euronext takes action because six companies do not have an auditor to audit their financial statements.
FD reported the news this morning. It is rare for a stockbroker to take a company public. René van Vlerken, Head of Listings at Euronext Amsterdam, told the newspaper that the measure was taken “to protect the reputation, stability and quality of the Dutch capital market”.
Three of the six smaller companies confirmed to FD that they had received the precautionary notice: ladder manufacturer Alumexx, holding company Lavide, and digital map manufacturer Geojunxion. Two companies do not want to answer, one cannot be reached.
Public interest
Listed funds (listed companies) are so-called “public interest entities” and their annual accounts must be audited by an auditor. In the Netherlands, six audit firms hold the required license.
Peter Paul de Vries, Director of the advocacy group for smaller publicly traded companies at MidkapNL, says he is not an accountant for small companies. The professional association of accountants acknowledges the lack of accountants in FD, but also says that an accountant can dismiss a company because its management is not organized.
Source: NOS

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