Mercurius Capital halts FY2023 AGM over unpaid audit fees

The company will also not issue a sustainability report for FY2023.

Mercurius Capital Investment announced it will not hold its FY2023 AGM due to unforeseen circumstances.

The company said the delay is due to outstanding payments owed to its auditors and accountants, which prevented them from completing the FY2023 audit on time.

The company will also not issue a sustainability report for FY2023 as it lacks revenue-generating operations, adding that the report “would not be relevant or meaningful.”

It has informed SGX-ST of its status as a cash company under Rule 1017 of the Catalist Rules.

Mercurius Capital Investment stated it is “actively pursuing” funding to ensure liquidity for its operations and financial obligations, including settling fees necessary to proceed with the FY2023 audit.

In addition, the company has applied for a waiver of the requirement to maintain an escrow account as required under Catalist Rule 1017.