Brief: Agriterra Says Were Not Able To Finalise & Release Annual Accounts Within 6 Months Timeframe

PACSCo

12/02/2020 18:01

Feb 12 (Reuters) - Agriterra Ltd  AGTAR.L :
    * COMPANY AND ITS AUDITORS WERE NOT ABLE TO FINALISE AND
RELEASE
ANNUAL ACCOUNTS WITHIN SIX MONTH TIMEFRAME
    * INTERNAL INVESTIGATIONS LAUNCHED FOR IDENTIFYING 2
INCIDENTS OF
THEFT ENABLED MANAGEMENT TO CONCLUDE THAT THESE WERE ISOLATED
INCIDENTS
    * APPOINTED PKF LITTLEJOHN TO UNDERTAKE FURTHER ASSESSMENT
WITH
BDO TO FINALISE ANNUAL ACCOUNTS WITHIN AN ESTIMATED PERIOD
    * TRADING FOR YEAR ENDED 31 MARCH 2019 SHOWED IMPROVED SALES
ACROSS BOTH GRAIN AND BEEF DIVISIONS AND REDUCED OPERATING
LOSSES
    * TOTAL THEFT AMOUNT IS US$18,700, OF WHICH US$7,200 BEEN
RECOVERED, RESULTING IN NET LOSS TO BUSINESS OF US$11,500

Source text for Eikon:  ID:nRSL8135Ca 
Further company coverage:  AGTAR.L 

 ((Reuters.Briefs@thomsonreuters.com;))