Mothercare suspends shares from AIM due to delayed results

1st Oct 2024 13:36

(Sharecast News) - Mothercare suspended its shares from trading on AIM on Tuesday due to a delay in the publication of its results for the year to 30 March 2024.

Under AIM rules, the mother and child retailer was due to publish the audited results by 30 September.

"The company is in the final stages of entering into definitive arrangements to refinance its financing facilities with its existing lender alongside the monetisation of certain IP assets, which together would fundamentally recapitalise Mothercare, reducing the net indebtedness and the ongoing cash financing costs of the company," it said.

Mothercare said it has been preparing its results with its auditors, taking into account these matters.

Given recent delays, it is now targeting the publication of the 2024 audited accounts "in the next few weeks following the conclusion of the audit".

Mothercare said it expects the results to be in line with the guidance given in its trading statement in May and confirmed that the trends outlined in that statement - including the challenges facing its Middle Eastern operations - remain broadly unchanged into the new financial year.