Nostrum hires joint auditors

Nostrum Oil and Gas has appointed MHA MacIntyre Hudson as auditors and Ernst and Young Kazakhstan as auditors of Zhaikmunai LLP, a subsidiary of the company.

The company said it expects that following the appointments, the audit work will commence in March 2023 and there is a reasonable prospect that the company will be unable to publish its audited financial statements in respect of the financial year ended 31 December 2022 on or before 30 April 2023.

Under the Financial Conduct Authority, Disclosure Guidance and Transparency Rules and the FCA’s Listing Rules, an issuer must make public its annual financial report at the latest four months after the end of each financial year.

If the issuer is unable to comply with the requirement, the FCA may suspend the listing of such shares in accordance with the provisions of the Listing Rules.

Any such suspension will be announced via a Regulatory Information Service and continue until the publication of the annual financial report.

Nostrum added it will update the market on the timing of publication of its audited financial statements for the 2022 financial year in due course.