De La Rue delays annual results following chair resignation

Delayed by one month

De La Rue, the bank note printing company, has delayed publication of its annual results following the resignation of its chair.

In a trading update yesterday (9 May), the firm said that its annual results for the financial year ended 25 March 2023 would be delayed from 31 May to 29 June. Chair Kevin Loosemore resigned last month (14 April) after sustained pressure from its third largest shareholder, Crystal Amber fund, which has a 9.8% stake in the firm. It credited the decision to delay its results to ongoing chair recruitment, which it said was in its "final stage", as well as discussions with lenders to amend its banking terms due to poor outlook for the firm. Crystal Amber pledges 'substantial return ...