Wirecard again postpones 2019 results publication

FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder/File Photo

FRANKFURT (Reuters) – German payments firm Wirecard (WDIG.DE) postponed the publication of final 2019 results for a third time late on Monday, citing delays in finalising audit procedures.

“Within the scope of the completed parts of the audit procedures, Wirecard has not yet been informed of any material findings,” the company said in a statement.

Publication will take place on June 18, Wirecard said. “The company expects an unqualified audit opinion.”

Originally, Wirecard had planned to publish on April 8, but it repeatedly postponed that as investigations into alleged accounting irregularities, which the company has denied, dragged on.

The annual general meeting has been postponed to Aug. 26, Wirecard added.

Earlier this month, Wirecard announced a management board reshuffle and appointed a new compliance officer, days after hedge fund TCI demanded the removal of Chief Executive Markus Braun.

In a bid to assuage investors, Wirecard had hired KPMG to conduct an independent audit but the accounting firm said it had insufficient information to disprove the allegations, made by the Financial Times.

Germany’s financial market watchdog BaFin is investigating whether the company withheld information before KPMG published its report.

Wirecard shares have lost 36% since the publication of the KPMG audit on April 28.

Reporting by Arno Schuetze; Editing by Richard Chang

Source Article

Next Post

French public lender raises 4.2 billion euros for fund to boost French firms

PARIS (Reuters) – Bpifrance has raised nearly 4.2 billion euros (£3.8 billion) for a new fund to shore up the capital base of big listed French companies, the French public investment bank said on Monday. A first round of capital raising has yielded 3.2 billion euros from over 20 investors […]