Chagala Group Limited Delay in Publishing Accounts&Suspension of Trading (6439M)
01 May 2018 - 4:31PM
UK Regulatory
TIDMCGLO
RNS Number : 6439M
Chagala Group Limited
01 May 2018
Chagala Group Limited
1 May 2018
Delay in Publishing Accounts and Related Suspension of
Trading
Chagala Group Limited (LSE:CGLO) (the "Company" or "Chagala"
and, together with its subsidiaries, the "Group") is a specialist
services and facilities provider to the oil and gas industry in
Kazakhstan with its Ordinary Shares (ISIN: VG1574371129) admitted
to trading on the London Stock Exchange's Main Market.
The board of directors of the Company (the "Board") announces
that the publication of the Company's audited consolidated accounts
as of and for the year ended 31 December 2017 (the "FY 2017
Accounts") will be delayed beyond 30 April 2018 due to a delay in
completion of the audit of such accounts. The audit is currently
expected to be completed by 15 July 2018.
The delay in completing the audit of the FY 2017 Accounts does
not reflect any issues concerning the underlying trading or
economic position of the Company, which has continued in line with
the Board's previous expectations following the announcement of the
Company's interim results on 31 August 2017. There are no matters
in connection with the delay in completing the audit which, in the
view of the Board, need to be brought to the attention of
shareholders.
The Disclosure Guidance and Transparency Rules (the "DTRs") of
the Financial Conduct Authority require a company to publish annual
financial reports within four months after the end of the financial
period to which they relate. As a consequence of the expected delay
in the publication of the FY 2017 Accounts beyond 30 April 2018,
the Board has requested that the listing of the Company's shares be
suspended from today's date until the publication of the FY 2017
Accounts. Accordingly, trading in the Company's Ordinary Shares
will be suspended from 7:30am today until such time as the FY 2017
Accounts are published in accordance with the DTRs.
The imperative of the Board is to minimise the delay in
completion of the audit and a further update will be given as soon
as the Board is in a position to do so regarding the expected date
of publication of the FY 2017 Accounts.
For more information:
Francisco Parrilla, Chief Executive
Chagala Group Limited + 7 (727) 355 04 84
Chagala Group
Chagala invests in service companies focused on providing long
and short-term accommodation solutions to domestic and
international oil and gas companies developing Kazakhstan's largest
hydrocarbon discoveries. With investments in hotels, guest houses,
serviced apartments, remote site facilities, restaurants and
offices, Chagala is well positioned to capitalize on the oil and
gas contribution being made in Kazakhstan.
This information is provided by RNS
The company news service from the London Stock Exchange
END
STRMMGFDVGVGRZM
(END) Dow Jones Newswires
May 01, 2018 02:31 ET (06:31 GMT)
Chagala (LSE:CGLO)
Historical Stock Chart
From Dec 2024 to Jan 2025
Chagala (LSE:CGLO)
Historical Stock Chart
From Jan 2024 to Jan 2025