Statement re. Suspension

RNS Number : 1268J

Cogenpower PLC

26 June 2017

 

                                                                                                                                           26 June 2017

Cogenpower plc

("Cogenpower" or the "Company" or the "Group")

Statement re Suspension

Cogenpower (CGP.L), the AIM-quoted low carbon technology energy business, announces that it has become apparent that the Company will not be in a position to publish its audited report and accounts for the year ended 31 December 2016 by 30 June 2017 in accordance with the AIM Rules for Companies. As a result the Company's shares have been suspended from trading on AIM pursuant to AIM Rule 19. The suspension will commence at 9.00 a.m. today and will remain in place until the Company's accounts have been published.

The inability to finalise the accounts prior to 30 June 2017 is primarily due to unavoidable delays encountered in completing the audit of the Company's Italian subsidiaries.

The Company is targeting to publish its accounts in July 2017.

A further announcement will be made in due course.

-ENDS-

Further enquiries:

Cogenpower plc	Dr. Francesco Vallone Ilaria Cannata Martin Groak	[phone] [phone] [e-mail]
Allenby Capital (Nominated Adviser and Joint Broker)	Nick Athanas Richard Short Nick Naylor	[phone]
Peterhouse Corporate Finance Limited (Joint Broker)	Heena Karani                                  Charles Goodfellow	[phone]

Notes to Editors

Energy efficiency through smart technology: Anaconda technology

Cogenpower (CGP.L) designs, builds or transforms, owns and operates high efficiency district heating and cooling schemes, scalable to serve communities from 3,000 to 50,000 people. At the heart of the business is Cogenpower's Anaconda Artificial Intelligence technology, an automated, Artificial Intelligence energy generation and control system equipped with a heat storage facility that delivers heat to customers and electricity to the grid with proven energy efficiency of more than 90%. Cogenpower was admitted to trading on AIM in February 2016.

 

END

 

 

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