Shares in Petra Diamonds Limited ( LSE:PDL , OTC:PDLMF ), the diamond miner, fell 26% to 2.6p on Friday morning, after it said delays to its audit mean it will miss the deadline for publishing annual results.
The company does not expect to publish its annual financial report for the year to 30 June 2026 by 31 October, the final date allowed under the Disclosure Guidance and Transparency Rules.
Petra said additional time is needed to complete outstanding audit procedures on parts of the group and on the group as a whole, finalise the consolidated accounts and complete the necessary audit reviews.
As a result, it expects its shares to be suspended from listing and trading from 07:30 on 2 November until the audit is complete and the annual report is published.
The company said there can be no certainty over when the suspension will be lifted and trading will resume.
Depending on when the audit is finished, there will probably also be a delay to the usual timing of its annual general meeting.
Petra said it is working closely with its auditors to publish the accounts as soon as practicable, and that it will make further announcements when appropriate.
