23 Mar 2020 07:36
23 March 2020
LAMPRELL PLC("Lamprell" and with its subsidiaries the "Group")
UPDATE TO RELEASE DATE OF THE 2019 FINANCIAL RESULTS
Lamprell has received a letter from the Financial Conduct Authority ("FCA") requesting all companies that are due to report in the next few weeks to defer the release of their 2019 financial results, as a result of the unprecedented practical challenges that listed companies and the audit profession are facing during the ongoing Coronavirus crisis. We note the FCA's announcement earlier this morning which provides further information on this subject matter: https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/other/14472186.html.
As a result, the Board of Lamprell plc has agreed to accommodate the FCA's request and will defer the release of Lamprell's 2019 financial results, which will not now be issued this week as planned. We will issue an announcement regarding the new date for release in due course following publication of further guidance from the FCA.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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Notes to editors
Lamprell PLC, based in the United Arab Emirates ("UAE") and with over 40 years' experience, is a leading provider of fabrication, engineering and contracting services to the offshore and onshore oil & gas and renewable energy industries. The Group has established leading market positions in the fabrication of shallow-water drilling jackup rigs, liftboats, land rigs, and rig refurbishment projects, and it also has an international reputation for building complex offshore and onshore process modules and fixed platforms.
Lamprell employs around 5,000 people across multiple facilities, with its primary facilities located in Hamriyah, Sharjah and Jebel Ali, all of which are in the UAE. In addition, the Group has facilities in Saudi Arabia (through a joint venture agreement). Combined, the Group's facilities cover approximately 828,000 m2 with 1.6 km of quayside.
Lamprell is listed on the London Stock Exchange (symbol "LAM").