Pressure Technologies confirms it will not meet March 31 deadline for publication of annual report
The company has provided an update for investors on the publication of its report and accounts for the financial year ended October 1 2022.
The statement said: “On March 21 2023, the group announced a delay to the audit of its FY22 (full year 2022) accounts while adjustments were made in relation to the accounting treatment applied to long-term defence contracts in FY22 and in prior periods to FY19 (full year 2019).
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Hide Ad"This delay meant that the group was unlikely to publish its FY22 annual report ahead of the annual general meeting scheduled for March 31 2023.
The statement added: “The group now confirms that it will not meet the March 31 2023 deadline for publication of the FY22 annual report and accordingly, the company's ordinary shares will be suspended from trading on AIM in accordance with AIM Rule 19 with effect from 7.30 a.m. on April 3 2023, being the first business day after 31 March 2023.
“Suspension from trading will be lifted with the publication of the FY22 annual report, which will be as soon as possible and which the board now expects to be no later than the end of April 2023. Further announcements will be made in due course as appropriate.”
Since listing on AIM in 2007, Pressure Technologies has grown by acquisition to design and manufacture high pressure systems for the global energy, defence and industrial gases marke