Braemar PLC - London-based shipbroker and advisor in shipping investment - Plans annual general meeting to be held on August 9. The company's shares were suspended earlier this month, due to a delay in the publication of its annual results pending an investigation into a 2013 transaction. The company said that the investigation was looking at a 2013 transaction of around USD3.0 million, and involving payments being made through to 2017. The company has said until this work is complete, it cannot publish its financial 2023 results and therefore missed its June 30 deadline.
On Monday, Braemar explained that the general meeting will only deal with the resolutions that do not relate to the 2023 annual accounts. An adjourned AGM will then be reconvened as soon as the company's 2023 accounts are made available.
Current stock price: suspended at 235.00 pence
12-month change: down 4.3%
By Sophie Rose, Alliance News reporter
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Braemar Shipping (BMS)