Caverton explains delay in filing FY'25 results before regulatory due date

Caverton Offshore Support Group Plc has notified its shareholders, the investing public, and other stakeholders that it was unable to file its Audited Financial Statements for the year ended December 31, 2025 on or before the regulatory due date of March 31, 2026, as required by applicable rules of the Nigerian Exchange Limited (NGX).

Caverton in a statement by Amaka Obiora,
Company Secretary/Legal Adviser noted that
“the delay in filing the 2025 Audited Financial Statements arises from the fact that the audit of the Company’s financial statements is still ongoing”.

Though not providing an anticipated filing date, Caverton Offshore Support Group Plc said the 2025 Audited Financial Statements
will be filed promptly upon completion of the audit process.

“The Company is working closely
with its external auditors to conclude the audit process. However, as at the date
of this notice, the audit has not been finalised due to the need to complete certain outstanding review procedures and obtain final audit clearances to ensure
the accuracy, completeness, and integrity of the financial statements”, the company said.

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“While significant progress has been made, the audit process has not reached
completion, and as such, the Company is currently unable to confirm a definitive
timeline for the finalisation and filing of the AFS.

“The Company considers it prudent not to provide an anticipated filing date at this time in order to avoid providing information that may subsequently require revision.

“The Company assures its shareholders and the market that it remains
fully committed to maintaining the highest standards of financial reporting, transparency, and regulatory compliance”, according to the notice at the NGX.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.