1st May 2024 17:45
(Alliance News) - Curzon Energy PLC on Wednesday noted a delay in the publication of its annual results.
The London-based investor and developer in US based natural gas projects noted that it is required to publish its annual results by April 30.
However, the company and its auditors have requested additional time in order to complete an ongoing corporate restructuring "with the objective of recapitalising the company and the elimination of its outstanding liabilities and corporate debt."
Curzon explained that it plans to publish results in May, but this remains conditional.
"There is currently no certainty that the company will be able to complete the corporate restructuring as this process is dependent on reaching agreement with all the company's creditors," it noted.
The company also confirmed that it has ceased discussions regarding any reverse takeover transaction.
Shares in Curzon are currently suspended, but the company plans to apply for the suspension to be lifted after the results are published.
By Sophie Rose, Alliance News senior reporter
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