Byotrol PLC Posting of Accounts, Notice of AGM and Restoration (6720P)
11 Octubre 2019 - 9:00AM
UK Regulatory
TIDMBYOT
RNS Number : 6720P
Byotrol PLC
11 October 2019
Byotrol plc
("Byotrol" or the "Company")
.
Posting of audited accounts for the year ended 31 March 2019
Notice of Annual General Meeting
Restoration of trading on AIM
The Company announces that the Annual Report and Accounts
("Annual Report") for the year ended 31 March 2019 are now
available on the Company's website at www.byotrol.co.uk, along with
a Notice of Annual General Meeting ("AGM") and related Form of
Proxy. Paper copies will be posted to shareholders by Friday 18
October.
Following final audit review processes the Board became aware of
an adjustment required relating to the amount reported in the
preliminary results as a financing charge for the year on
contingent liabilities arising from the acquisition of Medimark.
This adjustment has resulted in a reduction in the finance expense
of GBP0.11m with a consequent increase in the fair value of
contingent consideration recognised at the date of acquisition and
a corresponding amount of goodwill.
There has been no effect on reported EBITDA or operating profit,
and the underlying financial performance of the Byotrol Group for
the year ended 31 March 2019 remains unchanged
Qualified audit report
Shareholders will note that the Annual Report contains a
qualified audit opinion, with relevant wording as follows:
"Included within the Group cash and cash equivalents balance was
GBP89,000 across four Lloyds Bank Plc accounts within two
subsidiary entities. We have not received a response from Lloyds
Bank Plc to our request for confirmation of bank account balances
and of any other facilities or arrangements that the Group has with
Lloyds Bank Plc other than an acknowledgement of receipt, which
confirms that an account previously held by the parent company with
a trivial balance recognised in the Company statement of financial
position is closed."
"We were able to review bank reconciliations for three of the
four open Lloyds Bank Plc accounts referred to above, with the
fourth account having a trivial balance for which bank statements
indicate trivial movement during the year. However we were unable
to perform all our planned audit procedures and we considered that
alternative audit procedures did not fully address the risk of
completeness of bank facilities across the Group and parent company
financial statements."
The Directors have made every effort to resolve this matter to
our auditor's satisfaction, without success. Whilst it may have
been possible eventually to obtain a suitable response, the length
of time this may have required was indeterminate, and the Board
took the decision that the interests of shareholders were best
served by publishing the accounts with the consequential qualified
audit opinion but resulting in the lifting in the suspension from
trading on AIM. Since the year end we have transferred over
GBP86,000 of the aggregate amount from the bank concerned to
another commercial bank and intend to transfer the balance
shortly.
The Company's AGM will be held at the offices of finnCap in
London on Thursday 14(th) November at 10am.
Following the release of these final audited results, the
Company announces that the suspension of the Company's ordinary
shares of 1 pence each ("Ordinary Shares") from trading on AIM will
be lifted and trading in the Company's Ordinary Shares on AIM is
expected to recommence immediately from 3:00pm on 11 October
2019.
Enquiries:
Byotrol plc 01925 742 000
David Traynor - Chief Executive
Nic Hellyer - Chief Financial Officer
finnCap
Geoff Nash / Teddy Whiley - Corporate Finance 020 7220 0500
Richard Chambers - ECM
Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a specialist developer
of antimicrobial technologies, identifying, developing, formulating
and commercialising cutting-edge antimicrobial solutions.
Our patented suite of technologies deliver powerful,
broad-spectrum efficacy, optimised against commonly-occurring and
industry-specific pathogens.
Founded in 2005, the Company seeks to develop and commercialise
advanced antimicrobial technologies that create easier, safer and
cleaner lives for everyone.
For more information, please go to www.byotrol.co.uk
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ACSUAOORKWARAAA
(END) Dow Jones Newswires
October 11, 2019 10:00 ET (14:00 GMT)
Byotrol (LSE:BYOT)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Byotrol (LSE:BYOT)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024