Petra postpones publication of audited financial statements

LSE-listed Petra Diamonds has secured a temporary relief from the UK Financial Conduct Authority (FCA) to postpone the publication of its audited financial statements for the financial year ending 30 June 2020 to 17 November 2020.
This will also apply to the company’s annual report and accounts for financial year 2020.
The UK Financial Conduct Authority (FCA) is allowing listed companies an additional two months within which to publish their audited financial statements during the COVID-19 crisis.
Petra said the relief will assist the company in the preparation and completion of its audited financial statements while contending with the unprecedented challenges wrought by the COVID-19 pandemic, which continue to pose restrictions on its business and the audit of its results. 
“It will also allow for a fuller update to the company’s stakeholders with regards to developments in the strategic review currently underway to evaluate an optimal long-term capital structure for the business,” said Petra.
The diamond miner said it will also postpone its Annual General Meeting to 17 December 2020. 
Petra Diamonds, which has mines in South Africa and Tanzania, recently put itself up for sale or parts of the business and assets of the group.
This follows a strategic review, which seeks to find ways to repay the group’s $650 million debt.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished