Utilitywise plc Temporary suspension of share trading (1333D)
January 29 2018 - 2:00AM
UK Regulatory
TIDMUTW
RNS Number : 1333D
Utilitywise plc
29 January 2018
29 January 2018
Utilitywise plc
("Utilitywise" or "the Company")
Temporary suspension of share trading
Utilitywise plc (AIM:UTW), a leading independent utility cost
management consultancy, today announces that the Directors have now
concluded that the Company will not be able to publish its annual
audited accounts for the year ended 31 July 2017 ("FY17") by 31
January 2018.
This delay is due to the volume of work still required to be
completed by the Company and its auditor to cater for the proposed
change in the Company's revenue recognition policy, as announced on
17 January 2018. This work includes amendments to the Company's
financial reporting systems in order to analyse energy contract
data in accordance with that new policy, alongside associated work
by the Company's auditor, for the audit of its results for FY17 to
be completed.
The delay is not related to the Company's banking arrangements,
nor the trading, cash flows or other underlying economic position
of Utilitywise in either FY17 or the current financial year.
Accordingly, trading in the Company's shares will be suspended
pending notification of its FY17 full year results. Trading will be
temporarily suspended from 7.30am today until such time as the
results are published, in accordance with AIM Rule 19.
The imperative of the Board is to minimise the delay in the
completion of its final audited FY17 results and a further update
will be given as soon as the Board is in position to do so,
regarding the expected date of announcement of those results.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014
For further information
Utilitywise plc 0330 303 0233
Brendan Flattery (CEO)
Richard Laker (CFO)
finnCap (NOMAD and broker) 020 7220 0500
Matt Goode / Henrik Persson (Corporate
Finance)
Simon Johnson (Corporate Broking)
Liberum (Joint broker) 020 3100 2000
Robert Morton / Steve Pearce
Redleaf Communications 020 3757 6865
Robin Tozer / Elisabeth Cowell
Utilitywise is a leading independent utility cost management
consultancy, which has established trading relationships with a
number of major UK and European energy suppliers and provides
services to its customers designed to assist them in achieving
better value out of their energy contracts, reduced energy
consumption and lower carbon footprint. Utilitywise is a UK company
quoted on the AIM market of the London Stock Exchange. For more
information, please visit www.utilitywise.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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