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BOMSHELL EXPOSE: Parkmead Group - related party loan, multiple breaches of IFRS 9 including non recognition of loan modification losses

By Tom Winnifrith | Saturday 21 September 2024


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Parkmead (PMG) has entered into a related party loan with Energy Management Associates Limited (EMA) and in this note I take a look at how Parkmead has accounted for the loan. Suffice to say it is incorrectly and I shall be raising this with the FRC.
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