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Patisserie Holdings PLC   -  CAKE   

Trading Update

Released 07:30 10-Oct-2018

RNS Number : 5580D
Patisserie Holdings PLC
10 October 2018
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

For immediate release

 

10 October 2018

 

Patisserie Holdings plc

Trading update

 

Patisserie Holdings plc (AIM: CAKE) ("PH", the "Company" and together with its subsidiary undertakings, the "Group") announces that, during the course of 9 October 2018, the board of directors of the Company (the "Board") has been notified of significant, and potentially fraudulent, accounting irregularities and therefore a potential material mis-statement of the Company's accounts.

This has significantly impacted the Company's cash position and may lead to a material change in its overall financial position. As a result the Company has requested that its shares be suspended from trading on AIM while it conducts a full investigation with its legal and professional advisers into its true financial position.

In the meantime Chris Marsh, the Chief Financial Officer, has been suspended from his role.

The Company will make further announcements in due course as the results of the investigation become known.

Luke Johnson, Chairman, said:

"We are all deeply concerned about this news and the potential impact on the business. We are determined to understand the full details of what has happened and will communicate these to investors and stakeholders as soon as possible."

Contacts:

Enquiries

Patisserie Holdings PLC

+44 (0)121 777 7000

Luke Johnson, Executive Chairman


Paul May, Chief Executive Officer


 

Nomad and Broker


Canaccord Genuity Limited

+44 (0)20 7523 8000

Chris Connors


Henry Fitzgerald-O'Connor


 

Financial Public Relations


Maitland

+44 (0) 20 7379 5151

Sam Cartwright


Jonathan Cook


 

 


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Trading Update - RNS