Delay in EOY Results31 Mar 2020 09:15
RNS Number : 1333I
Horizonte Minerals PLC
31 March 2020
NEWS RELEASE
31 March 2020
UPDATED TIMING ON RELEASE OF FULL YEAR RESULTS
Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) ('Horizonte' or 'the Company') the nickel company focused in Brazil, announces that following recent exemptions granted to the market by Canadian securities regulatory authorities, the Company will release its Full Year Financial Results to end-December 2019 beyond the three month deadline usually required under the listing rules on the Toronto Stock Exchange. This has been driven by delays encountered in the audit process and is consistent with the wider audit environment at present throughout the world.
On March 23, the TMX Group exchanges Toronto Stock Exchange ('TSX') and TSX Venture Exchange ('TSXV') announced temporary blanket relief measures for listed issuers during the Coronavirus (COVID-19) pandemic. These included the allowance to delay the filing of certain continuous disclosure documents by up to 45 days from the 31 March 2020, given the administrative burden on public companies during the current crisis and to provide greater flexibility in dealing with market volatility.
As a result, the Company expects to publish the following documents on or before the end of the available 45-day extension period:
1. Annual Audited Financial Statements for the year ended December 31, 2019
2. Management Discussion & Analysis ('MD&A') for the year ended December 31, 2019
3. Annual Information Form ('AIF') for the year ended December 31, 2019
Until such time as the 2019 Financial Statements, the 2019 MD&A and the 2019 AIF are filed, the Company's management and other insiders will observe a trading blackout consistent with the principles contained in Canadian National Policy 11-207 - Failure to File Cease Orders and Revocations in Multiple Jurisdictions in addition to close period restrictions imposed by the UK's Market Abuse Regulations ('MAR').
An update on material business developments since the filing of the Company's interim financial reports has been provided in prior press releases.