Expected delay in publication of Annual Report

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 (Communications Head) Hannah Haffield [e-mail] Website www.tintra.com	020 3795 0421
Allenby Capital Limited (Nomad, Financial Adviser & Broker) John Depasquale / Nick Harriss / Vivek Bhardwaj	020 3328 5656

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.

 

END