26 Apr 2019 12:47
Announcement of Exillon Energy plc
26 April 2019 - Exillon Energy plc ("Exillon Energy" or the "Company") (EXI.LN), a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon WS"), announces that there shall be a delay in the publication of the consolidated financial statements of the Company and its subsidiaries (the "Group") for the year ended 31 December 2018 and the publication of the Group's annual report which is due for publication on or before 30 April 2019.
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.
The delay is to allow more time for additional and necessary information and evidence to be gathered in order for the board of directors of the Company to finalise the Group's consolidated financial statements and to allow the auditors to arrive at their opinion on those financial statements.
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 that the consolidated financial statements and the Group's annual report are published as soon as possible.
A further announcement will be made by not later than 30 June 2019.