28th Sep 2018 18:10
LONDON (Alliance News) - Flowgroup PLC on Friday said it has been in discussions with its creditors regarding the settlement of sums owed, but have not yet reached final agreements.
The company's shares were suspended on AIM in July after it failed to publish its full year results. The company said it is not currently able to determine a date by which it will be able to publish its audited accounts for the year to the end of 2017.
Flowgroup became a cash shell in May following the sale of Flow Energy Ltd and therefore has until November 1 to undertake a reverse takeover. Otherwise, a further suspension will be incurred, in addition to the company's existing suspension.