The UKLA has published a special edition of LIST! focussing on the interaction between working capital statements and risk factors in prospectuses.
The UKLA reminds issuers that it will pay particularly close attention to risk factors that suggest that issuers will or may run out of working capital in the next 12 months; whether and how a risk factor should be disclosed is a matter for the issuer in consultation with its advisers; where a risk factor describes a situation that is fundamentally inconsistent with a clean working capital statement, either the facts underlying the risk factor should be addressed or the working capital statement should be qualified; some risk factors are fundamentally inconsistent with a clean working capital statement.
View LIST! 24 (4 page pdf).