13th Mar 2015 09:21
LONDON (Alliance News) - Biomass energy company Aggregated Micro Power Holdings PLC on Friday said it has identified a theft from its wood feed stock supply and has reported a single, now former staff member to authorities.
Aggregated Micro said the theft was identified by its internal finance staff. The staff member, who has been fired, has undertaken to repay the value of the theft in full and the company has been provided with a legal charge over sufficient assets in order to ensure full repayment.
The company said the incident was isolated to a single employee and will not impact any of its customers or suppliers.
Aggregated Micro said it believes, based on current information and the actions taken, that it will receive a cash repayment in 2015 and that there will be a small positive re-statement of prior year audited accounts tracing back to 2012.
Shares in Aggregated Micro were untraded on Friday, having last traded at 100.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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