Enwell Energy PLC Update on Auditor, 2022 Annual Report and Accounts (1138A)
May 22 2023 - 2:00AM
UK Regulatory
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RNS Number : 1138A
Enwell Energy PLC
22 May 2023
22 May 2023
Enwell Energy plc
("Enwell" or the "Company")
Update regarding Auditor
and 2022 Annual Report and Accounts
Enwell Energy plc (AIM: ENW), the AIM-quoted oil and gas
exploration and production group, announces an update on its
progress towards engaging a new auditor following the resignation
of the Company's previous auditor as announced on 20 December
2022.
The Company has not yet been able to secure the services of a
new auditor for the UK component of the audit of its Annual Report
and Financial Statements for its financial year ended 31 December
2022 (the "2022 Annual Report and Accounts"), but has agreed terms
with the Ukrainian office of an international accountancy firm to
undertake the Ukrainian component of such audit process. The
Company is continuing to seek to identify and appoint an auditor in
the UK at the earliest opportunity and a further update will be
made as appropriate.
As stipulated by Rule 19 of the AIM Rules for Companies, the
Company is required to publish its audited 2022 Annual Report and
Accounts by 30 June 2023. However, in light of the length of time
that would likely be required to secure the services of a UK
auditor, and for such auditor to then undertake the audit of the
Group's financial statements, it is highly unlikely to be possible
to complete, publish and post such accounts to shareholders by the
requisite 30 June 2023 deadline. Accordingly, assuming that this is
the case, trading in the Company's ordinary shares on AIM will be
suspended with effect from 7.30 a.m. on Monday, 3 July 2023 pending
publication of the 2022 Annual Report and Accounts. Suspension from
trading would then be lifted with the publication of the 2022
Annual Report and Accounts.
As disclosed in the Quarterly Operations Update of 28 April
2023, the Company has cash resources of approximately $81.9 million
in various currencies outside Ukraine so its financial position is
secure and the Board is evaluating how best to maximise shareholder
returns going forward.
For further information, please contact:
Enwell Energy plc Tel: 020 3427
3550
Chris Hopkinson, Chairman
Sergii Glazunov, Chief Executive Officer
Bruce Burrows, Finance Director
Strand Hanson Limited Tel: 020 7409
3494
Rory Murphy / Matthew Chandler
Zeus Capital Limited Tel: 020 7614
5900
Alexandra Campbell-Harris (Corporate
Finance)
Simon Johnson (Corporate Broking)
Citigate Dewe Rogerson Tel: 020 7638
9571
Ellen Wilton
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014, which forms part of United
Kingdom domestic law by virtue of the European Union (Withdrawal)
Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU
Exit) Regulations 2019.
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END
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