May 2020 Financial News

MPC Caribbean Clean Energy Limited - Further Delay in the publication of Audited Annual Financial Statements

May 15, 2020

Regrettably, we are informing you that due to uncontrolled and unforeseen reasons with the auditing process, the annual financial report the year ending December 31, 2019 will be delayed longer than expected. The delays in the auditing process are based on delays in the financial reporting in the underlying investment structure, dependant on partners from various jurisdictions. Some of the relevant service partners are from jurisdictions strongly affected by the current COVID-19 pandemic. Some of those maintain a complete lockdown with an undefined duration. Travel restrictions have further complicated the international network of the company, especially on the level of its ultimate investments. The management does everything in their power to adhere to the filing obligations in a timely manner. However, the publication will possibly be delayed for up to another 28 days from the extended date and therefore the new publication date is presumed to be June 23, 2020. As the Annual Report 2019 relies on the information presented in the audited financial statements, respective delay is foreseen for the submission and publishing of Annual Report and first quarterly financial statement 2020 of the company with the expected submission day to be June 30, 2020. If the strong restrictions we are facing will be loosened soon, we are confident to finalize any outstanding items much sooner. Due to the uncertainty of the duration of imposed restrictions, we take the prudent position outlined. We apologize for any arising inconveniences and refer to the published interim financial report for the fourth quarter 2019, containing a full set of relevant disclosure notes.

 

Source:
The Trinidad and Tobago Stock Exchange Limited
Friday 15th May, 2020