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Live Co Group PLC shares plummeted on Wednesday, over its delayed audit and the appointment of its new auditors. Shares in the Surrey, England-based live events, entertainment and sports events company were down 21% to 1.50 pence each in London early Wednesday. Over the past 12 months the stock is down 78%. The company said it has appointed MHA MacIntyre Hudson, part of Baker Tilly International, as its new auditors. Live Co added that whilst the preparation of its 2022 financial statements have been ongoing, the accounts are unlikely to be published by June 30, as required by the AIM listing rules. It said that it has now engaged additional resourced to ensure the publication of its results by July 31. Accordingly, the company shares will be suspended from July 3. The Live Co’s outgoing auditors, Kingston Smith LLP, have confirmed that there are no matters connected with their resignation which should be brought to the attention of the new auditors, members or creditors of the company. Chair David Ciclitira said: ‘I am delighted to welcome MHA onboard and expect that the June accounts will be published by the end of July. We are now able to look forward to updating our shareholders on a webinar to be announced shortly.’ Copyright 2023 Alliance News Ltd. All Rights Reserved.
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