S-Ventures PLC - Update on the release of financial statements

Announcement provided by

S-Ventures Plc · SVEN

30/05/2023 14:37

RNS Number : 0560B

S-Ventures PLC

30 May 2023

S-VENTURES PLC

("S-Ventures" or the "Company")

Update on the release of consolidated audited financial statements as of 30 September 2022

S-Ventures plc (AQSE: SVEN) (OTCQB: SVTPF), the company investing in and growing exciting brands across the natural, wellness and food-tech categories, wishes to provide an update regarding the delay to the publication of the consolidated audited results of the Company and its subsidiaries (the "Group") for the financial year ended 30 September 2022 ("FYE 2022").

Work on the FYE 2022 audit is close to finalisation and completion and this is expected to be fully concluded and released by Friday 16^th June. There have been a number of factors for the delay, mainly surrounding PPA rules and valuations of subsidiaries especially in Germany where the situation has been complex. The auditors and the board of S-Ventures PLC are working hard to ensure we complete the missing items to ensure we meet the 16^th June release date. New internal protocols have been put in place to manage this process faster and more effectively for the upcoming new financial year end and treatment of recent acquisitions.

For further information, please contact:

The Company

Robert Hewitt (Chief Financial Officer)

Scott Livingston (Chief Executive Officer)

+44 (0) 1932 400 224

AQSE Corporate Adviser and Broker:

VSA Capital Limited

Andrew Raca

Matthew Harker

+44 (0) 20 3005 5000

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