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Curzon Energy Plc announced on 1 May 2024 an update regarding its 2023 Annual Report and Financial Statements, which was required to be published by 30 April 2024. The Company and its auditors requested additional time to complete a corporate restructuring, targeting the 2023 Annual Report publication in May 2024, conditional upon the restructuring's completion. Curzon further confirmed it has ceased discussions regarding any reverse takeover transaction and will apply for its share suspension to be lifted following the Corporate Restructuring's completion and the 2023 Annual Report's publication.
| Date | 1 May 2024 |
| Time | 10:41:49 |
| Category | Corporate updates |
| ID | 8202M |
1 May 2024
Curzon Energy Plc
("Curzon" or the "Company")
Corporate Update
Curzon Energy Plc (LON:CZN), the London Stock Exchange listed company, announces an update in relation to its Annual Report and Financial Statements for the financial year ended 2023, as well as to the status of any potential transactions.
As stipulated by the Listing Rules and Disclosure and Transparency Rules, the Company is required to publish its audited Annual Report by 30 April 2024. However, the Company and its auditors have requested additional time in order to complete an ongoing corporate restructuring with the objective of recapitalising the Company and the elimination of its outstanding liabilities and corporate debt ("Corporate Restructuring").
The Company is targeting the publication of the 2023 Annual Report in May 2024 but this is conditional upon the Company completing the Corporate Restructuring. There is currently no certainty that the Company will be able to complete the Corporate Restructuring as this process is dependent on reaching agreement with all the Company's creditors.
The Company further confirms that it has ceased discussions regarding any reverse takeover transaction, as the progression of any such discussions is dependent on completion of the Corporate Restructuring. The Company will therefore apply for the suspension of trading in its shares to be lifted, following the completion of the Corporate Restructuring, provided the Company has published its 2023 Annual Report.
Notwithstanding the suspension of trading in the Company's ordinary shares, the Company will make announcements regarding material progress is made in relation to the Corporate Restructuring and continue to comply with its ongoing disclosure requirements under the Market Abuse Regulation.
For further information please contact:
Curzon Energy Plc
Scott Kaintz
Peterhouse Capital Limited (Corporate Broker)
Lucy Williams / Duncan Vasey / Brefo Gyasi
+44 (0)20 75690930
www.curzonenergy.com