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LONDON - Renold plc has delayed the publication of its annual results for the year ended March 31, 2025, due to additional audit requirements related to its pending acquisition, according to a company statement Monday.
The industrial chain manufacturer was scheduled to release its financial results on July 2 but now expects to publish them on July 9. The analyst presentation previously scheduled for July 2 has also been postponed.
The delay comes after MPE Bid Co, a newly-formed corporation controlled by funds managed by MPE Mgt. Co., LLC, announced on June 13 a cash offer to acquire Renold’s entire issued and to-be-issued ordinary share capital at 82 pence per share.
Renold’s auditor, BDO LLP, requested additional time to complete audit processes due to "increased internal quality and regulatory requirements" associated with the acquisition, the company said.
Despite the delay, Renold’s board confirmed that its expectations for the current fiscal year remain unchanged.
Renold, which describes itself as a global leader in industrial chain manufacturing, also produces torque transmission products sold worldwide to original equipment manufacturers and distributors across industries including manufacturing, transportation, energy, steel, and mining.
The information was disclosed in a regulatory news service filing to the London Stock Exchange (LON:LSEG).
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