26th Apr 2019 14:10
LONDON (Alliance News) - Shares in Exillon Energy PLC fell Friday as the firm delayed its annual results to look further into some transactions.
Exillon did not say when it had originally planned to publish 2018 figures, but the deadline was on of before Tuesday next week, the last day of April.
"The delay is mainly due to the fact that certain transactions entered into by the group companies have been identified where the status of the counterparties and the nature of the transactions require further review and analysis by the board of directors and the management of the company and its auditors," said Exillon.
The delay will allow Exillon to complete its financial statements and permit auditors to properly review them.
"The directors of the company have initiated a detailed review to be carried out by the company's external professional service providers with the aim of ensuring the consolidated financial statements and the group's annual report are published as soon as possible," Exillon added.
Shares were 20% lower Friday afternoon at 40.20 pence each.
Related Shares:
EXI.L