StockMarketWire.com - Women's fashion retailer Bonchmarche said that it expected the release of its annual report to be delayed and its shares consequently suspended from trading, before an agreed takeover of the company is completed.

Bonchmarche has already agreed to be acquired by businessman Philip Day's Spectre Holdings.

Last month, company auditor PwC suggested that it may include a reference in its audit report due to uncertainty with regard to the company's future as a going concern and Spectre's ultimate plans for the business.

'PwC has now indicated to the company that it has insufficient time to reach a conclusion in relation to these and other matters and to complete its internal processes necessary to sign off the report and accounts by 31 July 2019,' Bonmarche said.

'Accordingly, Bonmarche announces that the publication of the group's annual financial report for the period ended 30 March 2019 will be delayed beyond 31 July 2019 and, as such, the company will be requesting the suspension of trading in the company's shares with effect from 7.00 a.m. on 1 August 2019.'

'Furthermore, it is anticipated that the cancellation of Bonmarche's listing will occur before the annual report is made public.'

'Accordingly, the company's shares are not expected to resume trading after the suspension takes effect.'


At 2:20pm: [LON:BON] Bonmarche Holdings share price was 0p at 8.5p



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