RE: Any news?17 Jul 2024 16:29
1. Chill Brands CEO exonerated but audit publication deadline set to be missed
There’s a lengthy update out from vape business Chill Brands [LON:CHIL] this morning covering off a range of aspects. The CEO, who had been accused of using insider information, has been exonerated but a series of steps are also being taken to improve governance and make the business more robust, including reviewing revenue recognition policies and appointing the former CEO as a non-exec.
The shake up is also allowing the full year audit to be completed although the note adds that this is unlikely to be delivered by the 31st July deadline, meaning the shares will remain suspended for some time yet.