Caverton Offshore Support Group Plc has apologised to its shareholders and investing public for being unable to file its Audited Financial Statements for the year ended December 31, 2025.
Companies trading their stocks on the Nigerian Exchange (NGX) Limited are required to submit their audited results for a financial year, at most three months after.
For its financial statements for the 2025 fiscal year, which ended December 31, 2025, the aviation firm was required to file on or before March 31, 2026.
However, six months later, it had yet to file the results, a development which may affect its securities at the market, as it might face suspension after prolonged default.
In a notice to the exchange, Caverton partly attributed the delay to the resignation of its chief financial officer.
The company noted that the exit of the CFO during the audit process “disrupted internal review and sign-off procedures.”
It also blamed administrative delays affecting the external auditors’ regulatory clearance from the Financial Reporting Council of Nigeria (FRCN), as well as unforeseen technical issues with the Company’s Enterprise Resource Planning (ERP) system, which temporarily affected data extraction and financial reconciliations for the default.
However, the organisation promised to release the financial statements on or before Friday, July 10, 2026, noting that the audit is “now at its concluding stage.”