WANDisco's delayed results and fundraise pushed back into next week

(Alliance News) - WANdisco PLC on Wednesday pushed back the announcement of its already delayed 2022 results and equity issue into next week.

The Sheffield, England-based data migration platform said its auditors, BDO LLP, have requested more time to complete their procedures.

It is now expected that results will be released next week Tuesday, and not this Friday as planned. WANDisco stressed it does not expect the audit to result in any material changes to the results from recent disclosures.

In March, WANdisco suspended trading in its shares after uncovering signs of possible "sophisticated" fraudulent activity, just days after the company had announced it was exploring a potential US listing. On May 4, the company said it would cut its global headcount by about 30%.

The firm also confirmed its previously announced USD30 million equity issue, would be announced on Monday. The company intends to use proceeds for general working capital business and to underpin marketing, sales, research, development infrastructure and to enhance business development.

WANDisco is also seeking to lift the suspension of trading in the company's shares on July 7, once the results are published and the equity issue completed.

By Jeremy Cutler, Alliance News reporter

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