REG - Tintra PLC - Expected delay in publication of Annual Report

TintraAnnouncement

19/07/2023 14:15

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RNS Number : 5539G  Tintra PLC  19 July 2023

 THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED
AS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE
REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR")

 

19 July 2023

 

Tintra plc

("Tintra", the "Group" or the "Company")

 

Expected delay in publication of audited Annual Report

Potential suspension of share trading from 1 August 2023

 

 

The board of directors (the "Board") of Tintra, the rapidly innovating Deep
Tech & Banking business, provides the following updates regarding the
Group's audit and annual report for the year ended 31 January 2023 ("FY23").

 

The Board understands that generally across the quoted company environment,
companies are experiencing increasing pressure on audit timetables.

 

The preparation of the Company's 2023 financial statements has been ongoing.
However, following discussion with the Group's auditors, MHA, it has become
clear that the audit for its accounts for FY23 will not be achieved within the
normal 6-month timeframe. Therefore, the Board has concluded that the Company
will not be in a position to publish its audited accounts for FY23 before 31
July 2023, the deadline as stipulated by Rule 19 of the AIM Rules for
Companies.

 

This delay to the audit completion means that the Company will only be in a
position to release its unaudited accounts to YE Jan23 prior to the AGM on 31
July 2023, with the audited annual report and accounts to follow later. The
Directors fully expect the audited results for FY23 to be in line with the
unaudited accounts for FY23.

 

The Company remains committed to finding a positive resolution to this matter.
If in the event that this cannot be achieved before 31 July 2023, trading in
the Company's shares would then be temporarily suspended from trading on AIM
with effect from 7.30 a.m. on 1 August 2023 until the publication of its
audited accounts for FY23.

 

Further updates in relation to progress with its audited accounts for FY23
will be provided as appropriate.

 

The Board states, "We have been working hard to ensure that the accounts are
delivered on time, having started work with specialist consultants for
technical aspects of the audit preparation more than three months ago. The
delays with the final audit process are outside of the Company's control,
despite an incredible amount of work having been and being done to push this
faster. While the Company is frustrated with this position and its potential
for distraction, it confirms that it has no impact at all on the work of the
various teams in the Company or from our greater mission."

 

 

For further information, contact:

 

 Tintra PLC                                        020 3795 0421

 (Communications Head)

 Hannah Haffield

 h.haffield@tintra.com

 Website www.tintra.com

 Allenby Capital Limited                           020 3328 5656

 (Nomad, Financial Adviser & Broker)

 John Depasquale / Nick Harriss / Vivek Bhardwaj

 

 

 

This announcement is released by Tintra plc and contains information that
qualified or may have qualified as inside information for the purposes of
Article 7 of UK MAR, encompassing information relating to the placement
mentioned above. For the purposes of UK MAR, this announcement is made by
Hannah Hatfield, Communications Head of Tintra plc.

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