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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tex Holdings Plc | LSE:TXH | London | Ordinary Share | GB0008850470 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 73.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMTXH
RNS Number : 4635X
Tex Holdings PLC
29 April 2019
Tex Holdings plc
The Board of Tex Holdings plc has today asked the FCA to suspend the listing of the Ordinary Shares of Tex Holdings plc. The reason for this has been its inability to supply audited accounts for the year to 31(st) December 2018 within the permitted four month period. Outstanding issues still need to be dealt with in support of future forecasts and cashflows.
We also refer to a statement in our Trading Update dated 15(th) April 2019 which read as follows:
"The major shareholder has indicated its current intention is to continue to support the Group, noting in particular that a change in accounting treatment has been a partial cause of the bank covenants being breached."
After discussion with the Company's auditors, it is now evident that the auditor's opinion that accountancy standard IFRS15 has not been the cause of the breach of bank covenants is correct. Rather, the cause of the breach had been weak trading in the second half of the year. The major shareholder has however reconfirmed his intention to support the company.
The Company has made arrangements for additional resources to be made available to its finance department to assist the completion of the audit.
Enquiries
C.A. Parker
01473-830144
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
SRSILMFTMBBTBLL
(END) Dow Jones Newswires
April 29, 2019 12:22 ET (16:22 GMT)
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