Temporary shares’ suspension sought

DONEGAL Creameries yesterday asked that the Irish Stock Exchange temporarily suspends its shares from the official list until such time as its 2004 results have been released.

The group announced last week that the release of its preliminary statement of annual financial results for 2004 had been delayed for reasons outside its control. It said this was due to a delay in receiving results from associate firm Monaghan Middlebrook Mushrooms, which are required to permit Donegal to collate its consolidated results. Monaghan has indicated that its results should be available in May and, consequently, Donegal expects to be in a position to release its preliminary statement before the end of the month.

Donegal said the listing rules of the stock exchange state that the group’s results should have been released by April 30, 2005, and that this requirement has not been met for the reasons outlined in the announcement of April 26.