Braemar, which has been listed on the main London market since 1997, has been told by its auditor that its accounts will not be signed off before a deadline this week, Sky News learns
Braemar, the London-listed shipbroker, faces being plunged into crisis as a delay to the publication of its full-year accounts threatens to trigger the suspension of its shares.
Sky News has learnt that Braemar, which has a market capitalisation of approximately £92m, is likely to tell investors within days that it will be unable to meet a previously announced deadline of the second half of June to release its figures. City sources said this weekend that BDO, the company's auditor, had notified the company of concerns about certain items in its accounts.BDO is understood to have drafted in experts from FRP Advisory, another professional services firm, to investigate the situation.Braemar provides a range of services to the global shipping industry, and is a prominent international player in the sector.
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