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I generally just lurk on this board as there is too much childish behaviour to be bothered with. For transparency's sake, I do hold shares. Personally, I think it would be fair to expect an update tomorrow giving reporting dates, so at least confirmation of delay in submission, but I don't honestly expect much more than that. Hopefully, I am wrong. Reading the runes, I would be expecting a conversion of value into acquisition or merger supported by this division of Citic, given its background and focus, plus the bringing in of the M&A experience to the board, otherwise what's the point. How this translates into a £ value for retail shareholders, I frankly haven't a clue!
If as we believe there are advanced discussions taking place regarding sale of company or significant assets, here we potentially have a material non adjusting event. It is difficult to imagine how under any circumstances the auditors could sign off the accounts without reference to a potential sale.
I would think due to the potential material impact they simply could not remain silent and the accounts would be required to include a sufficient level of disclosure, particularly as the company remains suspended from trading.
My logical thinking leads me to believe we will have accounts tomorrow and they will have to contain narrative regarding any significant developments in a proposed sale. Just my opinion.
GLA
Companies intention is to publish last years accounts today or tomorrow although a very short use of the extension may be necessary. I did not (unfortunately) get the sense that the suspension will be lifted in tandem, although it was made clear that due to Covid, the suspension can be extended under case by case consideration.
Cheers James, :-)
All the best
@ Ian - no problem and keep up the good work.
ATB
Hi, James, yes you are perfectly correct and I have amended my post, I got excited by date in July rather than September.
So as per the companies house latest info, can we agree that it appears that an extension has been sought and granted, but we have received no RNS confirmation of such as yet, and as Crabbys08 post of July was a typo, conclude that if we receive an RNS by EOD tomorrow stating EOY results, and or, that an extension has been granted in delaying the filing up to the 30th September everything then is in order? That makes sense to me now, sorry, and I see the point you were making.
Thank you for clearing that up for me.
All the best
Ian
It has been pointed out to me I was being a bit optimistic with my dates.. the confirmation statement is nothing to do with filing so extension sought and issued up to 30th September... and as long as the EOY results are filed within that timeframe all is good, apart from delisting early August, but we want to be positive and not like Drunk.. :-)
As for proof of the point, please see companies house for filing history and latest info:-
Accounts
Next accounts made up to 31 December 2019
(now ) due by 30 September 2020
------------
https://beta.companieshouse.gov.uk/company/03087719
Good luck
Hi Ian
Just to clarify a confirmation statement is not the same as the annual report.
I am aware that they have applied for the extension. This is standard and I have done so myself for a number of companies I control.
However, my point is they haven’t announced to the market via RNS that there will be a delay, as per the example RNS released by SAE this morning.
Therefore I’m expecting either an RNS advising shareholders that they have extended, or they will publish today or tomorrow.
GLA
Tell you what guys. At the end of it all the bod will have got the absolute maximum for themselves and us. And, we’ve suffered the torture of the wait but so have they whilst also knowing they can’t tip us the wink. They've done well to Keep the info tight. I’m hoping tomorrow morning the rns pops up. Good luck everyone cos I’m sure we’ve earned it.
As for proof of the point, please see companies house for filing history and latest info:-
Accounts
Next accounts made up to 31 December 2019
(now due by) due by 30 September 2020
Last accounts made up to 31 December 2018
Confirmation statement
Next statement date 11 July 2020
due by 25 July 2020
Last statement dated 11 July 2019
-------------------------------------------------
https://beta.companieshouse.gov.uk/company/03087719
So results due by 25 July NOW on companies house.
Good luck
Morning James0309,
I think you will find that the company HAS asked for and got an extension, that bit is not in dispute as per the post from Gmf78 which I will post below, the recent confusion by Crabby08 after he phoned the company about the extension and reported back stating the results would be delayed by a month to the end of July altered everyone's expectations.
He then corrected his post and stated he still meant the end of June and it was a typo, fair enough.
So we do know that an extension HAS been applied for and granted, to the 30th September, as a just in case safety net.
And we also know that the results are due by the 30th of this month, BUT, we do have this safety net to fall back on if required.
And yes it has not been publicly announced but the London Stock Exchange does show the amended extended timeline to 30th September 2020.
So post from Gmf78-
gmf78
Posted in: EUA
Posts: 270
Price: 0.00
Strong Buy
Covid19 - Delay to 2019 accounts23 Jun 2020 20:34
Good evening all investors,
Just a quick update if you haven’t already noticed. Eurasia have applied for and received a 3 month extension for their 2019 accounts under the covid19 emergency procedures.
I’ve checked with the company and informed it was down to difficulties with getting the accounts audited as a backlog has arisen due to lack of travel in March, April and May. Nothing sinister, no conspiracy theories please.
Many many firms are in the same position, It is just the way it is this year.
Have a pleasant evening
https://twitter.com/gmf782/status/1275510163416457219?s=21
There has been some discussion here around whether EUA will delay their annual accounts publication, which is due tomorrow.
As an example SAE have this morning announced s delay due to C-19.
Extract......
“SIMEC ATLANTIS ENERGY LIMITED
("Atlantis", the "Company" or the "Group")
Reporting timetable change and Company update
SIMEC Atlantis Energy Limited, the global developer, owner and operator of sustainable energy projects, is today providing confirmation that the Company's reporting deadline for the publication of its 2019 annual audited accounts has been extended to 30 September 2020 (further to 'Inside Aim: Coronavirus - Temporary measures for publication of annual audited accounts').
The Group expects to announce its 2019 Full Year Results and publish its 2019 Annual Report and Financial Statements between the 7th and 14th August 2020. Announcements regarding the exact timing of the results and the Company's AGM, which will now be held virtually, will be made in due course. The Group's cash and cash equivalents as at 26th June 2020 are £9.4m”.
The fact that EUA have not released something similar suggests that we can still look forward to results this week?
GLA