March 2020 •
Due to the unprecedented situation arising from the COVID-19 pandemic, on 21 March 2020 the Financial Conduct Authority (“FCA”) requested that all companies listed on the main market of the London Stock Exchange due to publish their preliminary annual results around this time, observe a moratorium on the publication of their preliminary annual results for at least two weeks. The Financial Reporting Council (“FRC”) has supported this and encouraged listed companies and their auditors to also consider carefully whether they should delay other corporate reports for the next two weeks. In addition, on 26 March 2020, the FRC published additional guidance for companies and auditors preparing and auditing financial statements in the current uncertain environment.
Brave Bison’s ordinary shares are admitted to trading on AIM and not listed on the main market. However, following input from the Company’s auditors, Grant Thornton UK LLP, the Board has decided to follow the guidance from the FCA and the FRC and is delaying the publication of the Company’s final results for the year ended 31 December 2019 and audited annual report, previously scheduled for 1 April 2020. The audit was substantially complete and Brave Bison had intended to publish its results as planned, but this decision has been taken solely to comply with the guidance. It is the Board’s intention to release the 2019 Annual Report & Financial Statements as soon as it is possible to do so.
The Company’s results for the year ended 31 December 2019 remain in line with managements’ expectations and the guidance given in the Company’s announcement on 22 November 2019, based on the Company’s unaudited management accounts.