Mar
12
MADRID, March 12 |
MADRID, March 12 (Reuters) – Spanish fishing company
Pescanova said on Tuesday it had found discrepancies
between its accounts and its bank debt.
Pescanova’s statement comes a day after the stock market
regulator opened an investigation into the company for possible
market abuse.
Galicia-based Pescanova, which catches, processes and
packages fish on factory ships, said in a statement to the stock
exchange that its auditor, BDO Auditores, was looking into the
issue.
“We have detected discrepancies between our accounts and
bank debt figures, discrepancies which could be significant and
we’re in the process of revision and consolidation,” the company
said. “The moment we know the size of the discrepancies, we will
immediately inform the (market regulator).”
Auditors BDO could not immediately be reached for comment.
Earlier on Tuesday, the stock market regulator suspended the
company’s shares, which were trading 19 percent lower.
Pescanova filed for insolvency on March 1 after failing to
sell part of its salmon farming business.
The company, a big employer in the northwestern region of
Galicia, also did not report earnings by an end of February
deadline as required by law.
Pescanova had debt worth 1.52 billion euros at the end of
September last year.
(Reporting By Sonya Dowsett and Paul Day. Editing by Jane
Merriman)
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