MFSA suspends listing and trading of MedservRegis securities on Malta Stock Exchange

The financial watchdog says MedservRegis failed to publish its annual audited financial statements for 2021 within the needed time frame

The Malta Financial Services Authority has suspended the listing and trading of MedservRegis securities after the company failed to submit its annual audited financial statements on time.

MFSA issued the notice of suspension on Monday afternoon in line with its listing policies, whereby regulatory action is taken when a company fails to publish specified financial information within the deadline stipulated in the Capital Markets Rules. 

The suspension concerns MedservRegis plc and the company's corporate bonds, and will remain valied for 10 working days until 13 May. 

However, the MFSA could terminate the suspension sooner if the company publishes the documents before then. 

Last year Medserv acquired the core businesses of Regis Holdings Limited, a Mauritian-based company offering oilfield services. The companies joined forces after reaching an agreement in April 2021, allowing Medserv to strengthen its equity base while becoming more active in the sub-Saharan region.

The company has almost 102 million shares listed on the Malta Stock Exchange and three bonds - a 6% secured bond in euro that expires in 2023, a 4.5% unsecured bond in euro that expires in 2026, and a 5.75% unsecured bond in dollar that expires in 2026.