Brightcom Group shares to face permanent suspension? Company clarifies – CNBC TV18
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In its weekly update presentation, the Brightcom Group said that the announcement of the AGM, not being held in December, is not related to the revocation of its trading suspension timeline.
“The revocation process is progressing as planned and the necessary applications are already in place at both exchanges. We are confident of meeting all compliance requirements within the stipulated time frame and ensuring that the suspension does not become permanent,” the Brightcom Group said.
The Brightcom Group said that it will not face any permanent suspensions as long as the active revocation applications are in the works. It mentioned that the BSE revocation form is prepared and is ready for submission and the efforts continue to remain ongoing to meet exchange circular requirements for trading restoration.
It had earlier mentioned that it is confident of its trading suspension being revoked by the BSE and the NSE “well before” December 14, 2024. The latest weekly update does not share any timeline.
It also highlighted that the results for the June quarter of financial year 2025 will be declared on Thursday, December 12, 2024.
There will also be a price discovery session post the revocation of the trading suspension and the company said that it has no intention to propose a base price to the exchanges.
“We will meet the exchanges next week to address any outstanding issues and have a check on the penalties levied and pay them all in one go,” the Brightcom Group said.
Brightcom Group shares have been suspended for regular trading for six months now, and has left over 6.5 lakh small shareholders in the lurch. They only trade in the trade-for-trade segment and are categorized in the ‘Z’ group of stocks, where trading takes place only on the first trading day of the week.
