Kalamazoo Computer Group was this week announcing results showing a better financial performance in the second half of the year than the first.

On Monday its shares were suspended at 13p after the company failed to release its preliminary results for the financial year within 120 days of the year-end.

Malcolm Roberts, group chief executive of the Birmingham-based company, said: “We applied for shares suspension because we included in the report the sale of land at the back of our headquarters, and needed extra time to formalise the deal.”

A property developer, who is paying £2m for the land, will build homes. Mr Roberts said the cash would be invested in products.