Shares in Narf Industries PLC (LSE:NARF) tumbled 13% after the cybersecurity firm said it shares would be suspended due to an audit delay.
Specifically, the issue relates to the 2022 full-year results and is due to additional evidence requested by the number crunchers PKF Littlejohn concerning sensitive US government contracts.
As Narf will miss the FCA's deadline for publishing annual financial statements, it expects to temporarily suspend its shares' listing from 2 May.
CEO Steve Bassi clarified that the issue relates to revenue recognition timing and should not impact the cumulative revenue for 2022 and 2023. Trading remains in line with the board's expectations, he added.
Off their session low, the shares were changing hands for 0.8p each, down 0.12p at 9.30 am.