Update on Financial Results - Suspension of Shares

RNS Number : 6846K

Ince Group PLC (The)

22 December 2022

 

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information, as stipulated under the UK Market Abuse Regulation. With the publication of this announcement, this information is now considered to be in the public domain.

22 December 2022

The Ince Group plc

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

Expected delay in publication of annual report and interim results until 31 January 2023

Suspension of share trading from 3 January 2023

The Board of Ince provides the following updates regarding the Group's audit and annual report for the year ended 31 March 2022 ("FY22") and the Group's unaudited interim results for the six months ended 30 September 2022 ("H1 FY23").

The audit for FY22 is still in progress and the Group's new auditors, BDO LLP ("BDO"), have now informed the Company that because of the complexity of historic and legacy accounting issues they require more time to conclude their outstanding audit work.  In addition, ongoing delays in China as a result of Covid-19 restrictions continue to impact the audit process, as announced on 6 September 2022 and 23 November 2022. The Board is not aware of any material issues arising from the audit. 

Accordingly, the Company will not be in a position to publish its results for FY22 by 30 December 2022, the deadline granted to the Company pursuant to temporary Covid-19 regulations as announced on 6 September 2022. Consequently, the Company will also not be in a position to publish its interim results for H1 FY23 by the deadline for those results of 30 December 2022.

On the advice of BDO, the Company currently expects to publish the FY22 annual report and accounts and interim results for H1 FY23 by 31 January 2023. Further updates will be made as appropriate.

As a result, the Company's shares will be suspended from trading on AIM with effect from 3 January 2023, pending publication of the FY22 annual audited accounts and the interim results for H1 FY23.

Contacts:

The Ince Group plc
Donald Brown, Group Chief Executive	[e-mail]
Simon Oakes, Chief Financial Officer
Allenby Capital Limited - Nominated Adviser	[phone]
Jeremy Porter / Piers Shimwell, Corporate Finance
Arden Partners plc - Broker	[phone]
John Llewellyn Lloyd / Louisa Waddell, Corporate Finance
Simon Johnson, Corporate Broking

About The Ince Group plc

The Ince Group is a dynamic international legal and professional services business with offices in nine countries across Europe, Asia and the Middle East. With over 700 people, The Ince Group delivers legal advice, strategic guidance and business solutions to clients ranging from the world's oldest and biggest businesses operating across numerous industries to ultra-high net worth individuals. Through its entrepreneurial culture and "one firm" approach, the business offers its clients over 150 years of experience, insight and relationships. The Group is driven by a unique team of passionate people whose broad expertise and deep sector specialisms provide their clients with solutions to all their complex legal and strategic needs.

 

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