Extract of a statement from EBJ Top Brass:
Aircraft sold in fractional shares to clients are owned by Limited Liability Partnerships ("LLPs") with the fractional owners as partners, and managed by EBJ. In accordance with procedures established previously these LLPs had not been consolidated in the Financial Statements. On 30 September Baker Tilley informed the Directors that they had formed the opinion that these LLPs should be included in the Consolidated Financial Statements, on the basis that the LLPs are managed by EBJ.
Under these circumstances the Directors have agreed to prepare audited accounts for these LLPs and to include them in EBJ's Consolidated Financial Statements. These changes are estimated to take approximately three weeks to complete.
Under these circumstances the Company's shares are being suspended from trading under AIM Rule 19 until such time as the revised Financial Statements can be sent to shareholders.
Don't think the suspension is a bad thing in itself and, to be fair, protects investors. But, especially while other rumours abound, it's not a pretty picture and probably worth waiting before handing in your notice to go and fly for them....