Redcentric has cited a "challenging and difficult" few days as it appoints Deloitte and Nabarro to forensically investigate its accounts issues.
Last week, the managed services provider said it expects to have to write down historic profits after discovering "misstated accounting balances", prompting the firm to begin a forensic review. Its CFO Tom Coleman resigned with immediate effect.
Following that, Redcentric's investor said it was shocked at the news - describing accounts issues as "every investor's worst nightmare", but pledged its commitment to the company and snapped up more shares.
The company is now making headway with its forensic review, having yesterday appointed Deloitte and Nabarro to carry out the forensic investigations.
Julian Llewellyn, a former finance business improvement director at Exertis, has been appointed as interim CFO. A search is under way for a permanent CFO and it is "progressing well", said Redcentric.
When news of the accounts drama first broke, Redcentric's share price plummeted more than two thirds from £1.50 per share to 44p. Today (16 November, 9am) shares are trading at 88.75p.
Chris Cole, chairman of Redcentric, said: "The past few days have obviously been challenging and difficult for everyone involved with Redcentric. Our priority now is to complete this review and report the findings to all our stakeholders together with our interim results."
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