The move follows an announcement, released late Friday, in which InterQuest revealed it expected to fail to complete the due diligence process necessary for it to appoint a new nominated adviser (NOMAD) and broker before a deadline that passed over the weekend.

The statement added that failure to appoint a replacement NOMAD and broker for investment bankers Panmure Gordon would see the firm’s shares suspended today, which is what happened.

The firm revealed it was actively working to engage a replacement and anticipated it would be completed within one month of the suspension of its shares on AIM.

InterQuest issued a warning earlier last week that it may not be able to appoint a successor to Panmure Gordon in time to meet the deadline.

NOMADs provide advice during the process of flotation, and throughout the time a business remains on AIM.

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