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26 Jun 2017 09:00
26 June 2017
Cogenpower plc
("Cogenpower" or the "Company" or the "Group")
Statement re Suspension
Cogenpower (CGP.L), the AIM-quoted low carbon technology energy business, announces that it has become apparent that the Company will not be in a position to publish its audited report and accounts for the year ended 31 December 2016 by 30 June 2017 in accordance with the AIM Rules for Companies. As a result the Company's shares have been suspended from trading on AIM pursuant to AIM Rule 19. The suspension will commence at 9.00 a.m. today and will remain in place until the Company's accounts have been published.
The inability to finalise the accounts prior to 30 June 2017 is primarily due to unavoidable delays encountered in completing the audit of the Company's Italian subsidiaries.
The Company is targeting to publish its accounts in July 2017.
A further announcement will be made in due course.
-ENDS-
Further enquiries:
Cogenpower plc | Dr. Francesco Vallone Ilaria Cannata Martin Groak
| +39 011 4501466
+44 7949 209 301 info@cogenpower.co.uk |
Allenby Capital (Nominated Adviser and Joint Broker)
| Nick Athanas Richard Short Nick Naylor | +44 (0)20 3328 5656 |
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Peterhouse Corporate Finance Limited (Joint Broker) | Heena Karani Charles Goodfellow | +44 (0) 20 7469 0930 |
Notes to Editors
Energy efficiency through smart technology: Anaconda technology
Cogenpower (CGP.L) designs, builds or transforms, owns and operates high efficiency district heating and cooling schemes, scalable to serve communities from 3,000 to 50,000 people. At the heart of the business is Cogenpower's Anaconda Artificial Intelligence technology, an automated, Artificial Intelligence energy generation and control system equipped with a heat storage facility that delivers heat to customers and electricity to the grid with proven energy efficiency of more than 90%. Cogenpower was admitted to trading on AIM in February 2016.
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