NMCN PLC Update on 2020 results, temporary suspension (4535D)
29 Junio 2021 - 2:00AM
UK Regulatory
TIDMNMCN
RNS Number : 4535D
NMCN PLC
29 June 2021
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 which is part of UK law
by virtue of the European Union (Withdrawal) Act 2018
29 June 2021
("nmcn" or "the Company" or "the Group")
Update on 2020 results, temporary suspension of share
trading
On 16 April 2021 the Company announced that its audited
financial statements for year ended 31 December 2020 (the "2020
Results") were expected to be published by 30 June 2021. However,
the audit is still ongoing mainly in respect of concluding the
determination of contract costs to complete and recognition of
recoveries.
As a result of this additional work, it will not be possible to
publish the 2020 Results by 30 June 2021. This is the last date
permitted for publication of the 2020 Results under the Financial
Conduct Authority's (the "FCA") Disclosure Guidance and
Transparency Rules (as modified by the temporary relief granted to
all listed companies by the FCA on 26 March 2020).
The Board has therefore, in accordance with Chapter 5.3 of The
Listing Rules, engaged with the FCA to request a temporary
suspension of the Company's shares from the official list and from
trading on the premium segment of the Main Market of the London
Stock Exchange. The suspension will take effect from 8.00 a.m. on
29 June 2021 and continue until publication of the 2020 Results.
The Company's priority and focus is the production of the 2020
Results at the earliest possible date.
The Company continues to work with Svella Plc and its advisors
in order to conclude the required documentation to convene a
general meeting to seek shareholder approval to complete the
refinancing at the earliest opportunity.
Andrew Tinkler, Chairman of Svella Plc, commented:
"We note the technical requirement to suspend trading of the
Company shares pending publication of its 2020 Results. We
understand that the Company is working with its auditors to close
out these historic matters as a priority. Svella continues to work
with the Company to progress this recapitalisation which will
provide the required capital to allow the Company to achieve its
growth potential as set out in the announcement on 21 June
2021."
A further announcement will be made in due course as
appropriate.
Enquiries:
nmcn Plc - +44 (0) 1623 515 008
Ian Elliott, Chairman
Lee Marks, Chief Executive
Alan Foster, Chief Financial Officer
Svella Plc - +44 (0) 1228 648945
Andrew Tinkler
Ben Whawell
www.svella.com
About nmcn
nmcn Plc (TIDM: NMCN) is a leading engineering and construction
company in the UK. Its talented 1,700-strong team offers
multi-sector engineering and construction skills, technical
innovation, design, and specialist fabrication.
The Company delivers major built environment and water industry
projects across the UK - from buildings and highways to large-scale
water networks and treatment plants. With its history dating back
to 1946, nmcn now has 12 UK offices and three off-site
manufacturing facilities.
LEI Number: 213800ANYQVA5OS51A68
www.nmcn.com
IMPORTANT INFORMATION
The issue of this announcement shall not, for the avoidance of
doubt, in any circumstances, create any implication that nmcn shall
be required to provide any further updates on the status of any
matters contemplated in this announcement (save as may be required
by law or regulation).
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END
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June 29, 2021 03:00 ET (07:00 GMT)
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