With its shares on the Toronto Stock Exchange (TSX) almost worthless, struggling PV module manufacturer is to be de-listed. A review by TSX was concluded last week, after being started on October 21, 2011.
The Investment Industry Regulatory Organization of Canada (IIROC) has also enforced a temporary cease trade order on its shares until Arise reports third quarter results, which had been postponed due to management dealing with bankruptcy proceedings of its German subsidiary.
Arise said it would seek listing on an alternative exchange, without providing further details.