Last checked at 21 Dec 2017 12:00
21 December 2017
Kennedy Ventures plc
Notice of final results - Delay and Suspension
Kennedy Ventures plc ("Kennedy Ventures" or "the Company), the AIM quoted investment company who, through its stake in African Tantalum (Pty) Limited ("Aftan"), has an interest in the Namibia Tantalite Investment Mine in Namibia, announces that it will not be in a position to publish its audited accounts for the year ended 30 June 2017 before the deadline of 31 December 2017, as required by the AIM Rules for Companies. As a result, the Company's shares have been suspended from trading with immediate effect and will remain suspended until such time as the Company is in a position to publish its audited accounts.
The work to complete the Company's accounts is substantially complete however, the associated technical complexities of the adoption of IFRS has led to a delay in the production of Kennedy's Namibian subsidiaries accounts. This, coupled with the closure of the offices of the Namibian auditors BDO until 8 January 2018, means that the Company will not be able to meet the deadline of 31 December 2017.
The Company's current cash position is £2.4 million and the Board views the future with confidence.
Kennedy Ventures plc | |
Larry Johnson (CEO), c/o Camarco | Tel: +44 (0)203 757 4983 |
finnCap (Nominated Adviser and Joint broker) Christopher Raggett / Scott Mathieson / Anthony Adams (corporate finance) Simon Johnson (corporate broking) | Tel: +44 (0)20 7220 0500
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Shore Capital (Joint broker) Mark Percy / Toby Gibbs (corporate finance) Jerry Keen (corporate broking) | Tel: +44 (0) 207 408 4090 |
Camarco (PR) Gordon Poole / Billy Clegg James Crothers | Tel: +44 (0) 203 757 4980 |
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.