Braemar Provides Investigation Update
Why we think this is neutral
This RNS announcement provides an update on an independent investigation conducted by Braemar Plc. While the details are important for compliance and governance, the announcement does not contain any of the mandatory news types that would significantly impact the company's financial performance or outlook. Therefore, the overall sentiment is neutral.
Key Points
- Independent investigation conducted in 2023 on transactions from 2006-2013
- Provision of c. $2.5m recognized in FY23 accounts and retained in FY24 and FY25
- National Crime Agency granted an account freezing order on the separate bank account containing the ring-fenced amount
- Order does not impact the company's trading or net assets
Summary
Braemar Plc has provided an update on an independent investigation conducted in 2023 that focused on several transactions dating back from 2006 to 2013. The company recognized a provision of c. $2.5m in its FY23 accounts and retained the provision in its FY24 and FY25 accounts. Braemar has cooperated fully with the National Crime Agency (NCA), which has been granted an account freezing order in respect of the separate bank account containing the ring-fenced amount. This order does not impact the company's trading or net assets.