Kennedy Ventures PLC Notice of final results - Delay and Suspension (0915A)

TIDMKENV

RNS Number : 0915A

Kennedy Ventures PLC

21 December 2017

21 December 2017

Kennedy Ventures plc

Notice of final results - Delay and Suspension

Kennedy Ventures plc ("Kennedy Ventures" or "the Company), the AIM quoted investment company who, through its stake in African Tantalum (Pty) Limited ("Aftan"), has an interest in the Namibia Tantalite Investment Mine in Namibia, announces that it will not be in a position to publish its audited accounts for the year ended 30 June 2017 before the deadline of 31 December 2017, as required by the AIM Rules for Companies. As a result, the Company's shares have been suspended from trading with immediate effect and will remain suspended until such time as the Company is in a position to publish its audited accounts.

The work to complete the Company's accounts is substantially complete however, the associated technical complexities of the adoption of IFRS has led to a delay in the production of Kennedy's Namibian subsidiaries accounts. This, coupled with the closure of the offices of the Namibian auditors BDO until 8 January 2018, means that the Company will not be able to meet the deadline of 31 December 2017.

The Company's current cash position is GBP2.4 million and the Board views the future with confidence.

 
 Kennedy Ventures plc 
 Larry Johnson (CEO), c/o Camarco        Tel: +44 (0)203 
                                          757 4983 
 finnCap (Nominated Adviser              Tel: +44 (0)20 
  and Joint broker)                       7220 0500 
  Christopher Raggett / Scott 
  Mathieson / Anthony Adams (corporate 
  finance) 
  Simon Johnson (corporate broking) 
 Shore Capital (Joint broker)            Tel: +44 (0) 207 
  Mark Percy / Toby Gibbs (corporate      408 4090 
  finance) 
  Jerry Keen (corporate broking) 
 Camarco (PR)                            Tel: +44 (0) 203 
  Gordon Poole / Billy Clegg              757 4980 
  James Crothers 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 21, 2017 07:00 ET (12:00 GMT)