DCI Advisors Limited Delay in publication of accounts & temp.suspension
September 16 2024 - 3:54AM
RNS Regulatory News
RNS Number : 3134E
DCI Advisors Limited
16 September 2024
DCI Advisors
Ltd
(the
"Company" or "DCI")
Delay in Publication of
Annual Results and Temporary Suspension
16th September 2024
The Board of the Company provides
the following update with respect to its audited annual results for
the year end 31 December 2023 ("Annual Results") and its temporary
suspension from trading on AIM.
Delay in Publication of Annual Results
DCI's auditor is KPMG Cyprus in
cooperation with KPMG Greece and KPMG Croatia who audit the assets
in those respective countries.
On the 18th June, the Company
informed shareholders that the audit was expected to take until at
least 9 August 2024, which was the best indication of timing the
Board had received at the time.
Although disappointed that the audit
has not yet completed, the Board confirms that the audit continues
apace and now anticipates that the audited Annual Results will
be published during October 2024. At the same time, the Company
also expects to publish the interim results for the 6 months to 30
June 2024 in October.
The Board would like to reiterate
that robust sale plans have been identified for each asset in the
portfolio and expects to give an update on these when the audited
annual and interim results are published.
Temporary Suspension
As announced on 18 June 2024,
DCI's ordinary shares of €0.01 each ("Ordinary Shares") were
suspended on 1 July 2024 after the Company was unable to
publish its audited annual results.
DCI's Ordinary Shares remain
suspended for the time being and the Board anticipates that
suspension will be lifted during October after the audited Annual
and Interim Results are published.
Further announcements will be made
as required.
Update on Livka Bay process
As noted on the 28 June 2024, the
Company entered into a Sale & Purchase Agreement to sell the
Company's interest in Livka Bay on the island of Solte near to the
city of Split on the Dalmatian Coast in Croatia (the "Sale"). The
Board stated at the time that completion of this Sale was expected
to take place shortly and is for 100% of the Company's interest,
for a price of €22 million. The Board reiterate that it is nearing
full completion and anticipates being in receipt of funds during
September.
Enquiries
DCI
Advisors Ltd
Nicolai Huls / Nick Paris, Managing
Directors
|
nickparis@btinternet.com
+44 (0) 7738 470550
|
Cavendish Capital Markets (Nominated Adviser &
Broker)
James King / Jonny Franklin-Adams /
Edward Whiley / (Corporate Finance)
Pauline Tribe (Sales)
|
+44 (0) 20 7220 0500
|
FIM
Capital Limited (Administrator)
Lesley Lennon (Corporate
Governance)
|
llennon@fim.co.im
|
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