Narf Industries PLC Audit Update (4550X)
26 4월 2023 - 3:00PM
UK Regulatory
TIDMNARF
RNS Number : 4550X
Narf Industries PLC
26 April 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION
IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
26 April 2023
NARF INDUSTRIES PLC
AUDIT DELAY
Narf Industries plc ("Narf", the "Company", or the "Group"),
(LSE: 'NARF')(OTCQB: NFIN.F) the cybersecurity group specialising
in high-end threat intelligence and critical infrastructure
security announces that while trading remains in line with the
Board's expectations, there will be a delay to the publication of
the Group's audited results for the year ended 31 December 2022
("FY22"). Further details are outlined below.
Delay and Suspension
The Company is currently working to address the Group Auditor's,
PKF Littlejohn LLP, recent request for additional evidence
regarding invoices and the timing of revenue recognition that
involve very sensitive and confidential United States Government
("USG") contracts and their associated milestones, which has
resulted in the delay in completing the Group audit.
Because of these sensitivities, the Group will not meet the 30
April 2023 deadline required by the Financial Conduct Authority's
("FCA") Disclosure Guidance and Transparency Rules to publish their
annual financial statements. As a result, the Group expects that it
will request in due course for the listing of the Company's shares
to be temporarily suspended with effect from 7.30 a.m. on 2 May
2023. The Company will request a restoration of the listing of its
shares on publication of its FY22 audited results.
Steve Bassi, CEO: "These contracts go back many years and
payment has always been secured against milestones achieved and
invoices then raised. The matter at hand relates to the
confirmation to be provided by the USG for the period in which
revenue from these contracts should be recognised. This is not
expected to change the cumulative revenue of 2022 and 2023 for the
Group in the Operations Update provided on 29 September 2022."
ENDS
For further information on the Group please visit
www.narfgroup.com or contact:
John Herring NARF jh@narfgroup.com
Catherine Leftley/Paul St Brides Partners narf@stbridespartners.co.uk
Dulieu /Isabel de Salis
------------------- ---------------------------
Peter Krens Tennyson Securities Tel: +44 (0)207 186 9030
------------------- ---------------------------
About NARF Industries plc
Narf Industries (LSE: NARF)(OTCQB: NFIN.F) is a US based cyber
security group specialising in high-end threat intelligence with a
focus on critical infrastructure. The Group leads commissioned
cyber security R&D and is commercialising a portfolio of
products including TIGR that can be used by utilities and cyber
first responders to restore power to electric grids and protecting
other key infrastructure that have suffered a cyber-attack. The
Group aims to further strengthen its portfolio organically and via
acquisition; its team of highly qualified cyber security experts is
well placed to identify opportunities.
Important notice
The content of this announcement has not been approved by an
authorised person within the meaning of the Financial Services and
Markets Act 2000 (FSMA). This announcement has been issued by and
is the sole responsibility of the Company. The information in this
announcement is subject to change. This announcement is not an
offer of securities for sale into the United States. The securities
referred to herein have not been and will not be registered under
the U.S. Securities Act of 1933, as amended (the Securities Act),
and may not be offered or sold, directly or indirectly, in or into
the United States, except pursuant to an applicable exemption from
registration. No public offering of securities is being made in the
United States. This announcement is not for release, publication or
distribution, directly or indirectly, in or into the United States,
Australia, Canada, the Republic of South Africa, Japan or any
jurisdiction where to do so might constitute a violation of local
securities laws or regulations (a Prohibited Jurisdiction). This
announcement and the information contained herein are not for
release, publication or distribution, directly or indirectly, to
persons in a Prohibited Jurisdiction unless permitted pursuant to
an exemption under the relevant local law or regulation in any such
jurisdiction.
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END
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April 26, 2023 02:00 ET (06:00 GMT)
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