Shares in engineering firm Cosalt will be removed from FTSE’s fledgling index on Thursday after being suspended since last month.
Cosalt suspended its shares after failing to publish its annual accounts, and FTSE said last night the continued suspension had led to the firm’s removal. The move will have no impact on Cosalt’s day-to-day business, but means the firm’s stock will not have any effect on the overall value of the FTSE fledgling index. Cosalt is still in talks to secure long-term funding with chairman David Ross, its pension trustees and its banks.