KENMARE Resources suffered the indignity of having its shares suspended for one and a half hours yesterday, after the company failed to file its interim results within the four-month deadline. After being suspended at 8.30 yesterday morning, Kenmare released its results at 10.00 and the shares were relisted shortly afterwards.

A spokesman for the Stock Exchange said that as Kenmare's half year results were for the year to the end of June, the company was obliged to publish these results within four months. That deadline expired yesterday morning and as a result the exchange took the decision to suspend the shares until the results were published.

The exchange has also suspended the listings of 16 investment funds for the same reason, but one of these funds had been relisted by the close of trading yesterday and other are expected to announce results on Monday and have their listing restored.

The Stock Exchange spokesman denied that the exchange was trying to make a point in the action it took yesterday. But market sources have suggested that the exchange, by taking what for it is an unusually strict action, is sending a message to public companies and investment funds that listing requirements are going to be rigorously enforced in future.

"The suspension of the investment funds looks like it's for international consumption and aimed at showing international markets that a Dublin listing for their funds is not going to be just a listing of convenience," said one fund manager whose funds are listed in Dublin. "It's a good move," he added.

Meanwhile Kenmare has completed a joint venture with the Australian group, BHP, for the development of its Congolene mineral sands project in Mozambique and the Australian group has now taken over operational control of the Congolene prospect.

Also in Mozambique, Kenmare says that it is not benefiting from strong demand for graphite from its Niassa mine with several large consumers switching to Ken mare flake as their primary source of flake graphite. Kenmare's results for the half-year to the end of June are largely irrelevant as they exclude most of the expected gains from Niassa and the expectation of rapid progress in bringing the Congolene mine into production. The group had a pre-tax loss of £976,194 for the period, although turnover went from zero to £435,000.