Still no cancellation of listings

After Euronext Amsterdam threatened to delist eight small funds April 2023, it appears they can now keep their place on the Damrak. The reason for the impending cancellation was that they had been unable to engage an accountant for a long time and were therefore unable to submit approved annual accounts. Initially they were given a deadline of early November 2023 to find an accountant and/or submit annual accounts. In October 2023, Euronext Amsterdam offered the funds a postponement until mid-January 2024. The reason for this was that the Portugal route, which had previously offered Value 8 a solution in finding an accountant, was seen as a viable option for the other small exchange funds.

Today it appears that seven of the eight listed companies have now succeeded in finding an accountant. Only mapmaker Geojunxion has decided to delist from the exchange. Investment company MKB Nedsense and digital publisher IEX will follow the path of Value 8 and collaborate with the Portuguese accountant CFA. Ladder manufacturer Alumexxx and the sustainable investor New Sources Energy were covered by accountants from KPMG, while real estate investor Bever Holding, holding company Lavide and the developer of CO₂projects, DGB, have found an accountant in another (unnamed) EU country.

The funds will remain on the ‘penalty bench’ for the time being. As soon as they have submitted approved annual accounts for 2024 on time, they will be let out. The VEB and the association of Dutch accountants remain critical of the foreign route, but the AFM is in agreement with hiring foreign accountants, especially considering the shortage of accountants in the Netherlands’, where only six parties are allowed to audit a listed fund (PwC, KPMG, Deloitte, EY, Mazars, BDO).