Lookers PLC Update on Results (2306P)
June 08 2020 - 2:00AM
UK Regulatory
TIDMLOOK
RNS Number : 2306P
Lookers PLC
08 June 2020
8 June 2020
Lookers plc ("Lookers" or the "Company")
UPDATE ON RESULTS
On 4 June 2020 the Company announced that its audited financial
statements for year ended 31 December 2019 (the "2019 Results")
were expected to be published by the 30 June 2020, subject to the
conclusion of banking discussions and the completion of the audit
process. The Company further announced that the Grant Thornton
investigation was nearing its completion and that a draft of the
Grant Thornton report (the "Draft Report") had been shared with the
Company's auditors, Deloitte LLP, for review in the context of
their audit opinion.
Having discussed the Draft Report with Deloitte and with that
report to be finalised, the Company has concluded that the
additional procedures that the Company and Deloitte will now need
to perform in order to finalise the 2019 Results means that it will
not be possible to publish the 2019 Results by 30 June 2020. This
is the last date permitted for publication of the 2019 Results
under the Financial Conduct Authority's (the "FCA") Disclosure
Guidance and Transparency Rules (as modified by the temporary
relief granted to all listed companies by the FCA on 26 March
2020).
After consultation with the FCA, if the 2019 Results are not
published by 30 June 2020 the Company anticipates that trading in
the Company's shares will be temporarily suspended with effect from
7.00 a.m. on 1 July 2020 until publication of the 2019 Results. The
Company's priority and focus is the production of the 2019 Results
at the earliest possible date and by no later than the end of
August 2020.
The Board and the Company's finance team is working closely with
Deloitte and is developing an action plan to ensure that the
additional work required to allow publication of 2019 Results is
completed as soon as possible.
Deloitte has indicated to the Company that it intends to resign
as auditor following the publication of the 2019 Results. The
Company is currently engaged in a competitive tender process to
appoint a new auditor.
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) No 596/2014
For further information:
Mark Raban, Chief Executive Officer Tel: 0161 291 0043
MHP Communications
Tim Rowntree, Simon Hockridge Tel: 07709 496 125
Email: Lookers@mhpc.com
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contact rns@lseg.com or visit www.rns.com.
END
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