BRIEF-Near Intelligence Inc On Oct 1, Board Appointed John Faieta, Company's Controller, To Serve As Company's Interim Cfo

Reuters
Oct 06, 2023

Oct 5 (Reuters) - Near Intelligence Inc :

* NEAR INTELLIGENCE INC: ON OCT 1, BOARD APPOINTED JOHN FAIETA, COMPANY'S CONTROLLER, TO SERVE AS COMPANY'S INTERIM CHIEF FINANCIAL OFFICER

* NEAR INTELLIGENCE - ON OCT 1, BOARD FORMED COMMITTEE OF BOARD TO OVERSEE, INTERNAL INVESTIGATION CONDUCTED BY OUTSIDE COUNSEL

* NEAR INTELLIGENCE -INVESTIGATION IS WITH RESPECT TO ALLEGATIONS OF FINANCIAL MISMANAGEMENT & POTENTIAL FRAUDULENT ACTIONS ALLEGEDLY TAKEN BY CEO & CFO

* NEAR INTELLIGENCE - ON OCT 1, BOARD PLACED CO'S CEO ANIL MATHEWS, CFO RAHUL AGARWALAND SHOBHIT SHUKLA, CO’S PRESIDENT ON ADMINISTRATIVE LEAVE

* NEAR INTELLIGENCE - ON OCT 1, BOARD APPOINTED GLADYS KONG, CO’S CHIEF OPERATING OFFICER AND SECRETARY, TO SERVE AS CO’S INTERIM CEO

* NEAR INTELLIGENCE - CO IS ALSO WITHDRAWING ALL PREVIOUSLY ISSUED REVENUE AND ADJUSTED EBITDA GUIDANCE

* NEAR INTELLIGENCE-NATURE, EXTENT OF ERRORS CONTAINED IN CO’S PREVIOUSLY ISSUED FINANCIAL STATEMENTS REMAIN SUBJECT TO FINDINGS OF ONGOING INVESTIGATION

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