Response to share price movement

RNS Number : 4223Z

Cake Box Holdings PLC

24 January 2022

 

Cake Box Holdings plc

("Cake Box" or the "Company" or the "Group") 

Response to share price movement

Cake Box notes the movement in its share price this morning and also notes recent commentary from a retail investor blogger.

The Company acknowledges some transcription errors between its 2021 Full Year Results announcement published on 30 June 2021 (the "Results Announcement") and the 2021 Annual Report and Accounts (the "Annual Report"). It also notes inconsistencies in prior period inventory reporting and comparative period disclosures relating to director interests in franchise stores. Where such discrepancies exist between the Annual Report and the Results Announcement, investors should refer to the Results Announcement. 

The errors noted have no impact on the Group's reported profits, cash flows or balance sheet and the Company received a clean audit opinion for the year.

As previously announced and as we continue to grow the business, a key priority for the Board remains underpinning growth with the appropriate level of experience and expertise for the Group's central functions, internal controls and processes. BDO has also been appointed to assist with implementing improved internal audit practices.

The Board confirms that, since the Company updated the market with its half year results in November, trading in H2 has continued strongly and in line with expectations for the full year.

  For further information, please contact:

Cake Box Holdings plc Sukh Chamdal, CEO Pardip Dass, CFO	[phone]
Shore Capital Stephane Auton Patrick Castle	[phone]
MHP Communications Oliver Hughes Simon Hockridge Pete Lambie	[phone]

 

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