Vulcan Industries Plc - Delay in publication of Annual Report and Company update
PR Newswire
LONDON, United Kingdom, September 26
26 September 2024
Vulcan Industries plc
("Vulcan" or the "Company")
Delay in publication of Annual Report and Company update
Delay in publication of Annual Report
Vulcan Industries plc (AQSE: VULC) announces that the publication of the Annual Report & Accounts of the Group for the year ended 31 March 2024 (due by 30 September 2024) will be delayed and a further announcement will be made in due course when the Company is in a position to provide an indication of timing for completion of the preparation of the financial statements and audit work.
Pursuant to Rule 5.1, AQSE will suspend trading in the Company's shares from 7 a.m. on 1st October 2024. Trading is expected to resume once the audited financial statements have been published.
Company update
Further to the announcement on 27 June 2024, the battery energy storage (BESS) project FPL250 received its BEGA report, confirming its date of connection to the Grid as being no later than 2034. The planning process has maintained progress towards "Ready to Build" (RTB) stage. The Company is evaluating alternative strategies to exploit the value generated to date.
The Company's secured debt falls due for repayment in the second quarter of 2025. A standstill agreement is in place and the Company is in discussions with the Lender to restructure this debt going forward.
Further announcements will be made in due course as these matters evolve.
For further information, visit: https://vulcanplc.com
Contacts
Vulcan Industries plc |
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Ian Tordoff, Chairman | nc@vulcanplc.com |
First Sentinel Corporate Finance Ltd (AQSE Corporate Adviser) | +44 20 3855 5551 |
Brian Stockbridge |
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Gabrielle Cordeiro |
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About Vulcan
Vulcan seeks to acquire and consolidate industrial and renewable SMEs and projects for value and to enhance performance in part through group synergies, but primarily by unlocking growth which is not being achieved as a standalone private company.
Forward Looking Statements
This news release may contain "forward-looking" statements and information relating to the Company. These statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
