Flowgroup plc Accounts update (0551S)

TIDMFLOW

RNS Number : 0551S

Flowgroup plc

20 June 2018

Flowgroup plc

("Flow" or the "Company")

Accounts update

Flowgroup plc (AIM: FLOW), provides an update on the publication of its audited results for the year ended 31 December 2017. Following the Company's completion of the sale of Flow Energy Limited on 1 May 2018, the Company has been in discussions with its creditors regarding the settlement of sums owed. It should be noted that no return is expected to shareholders in any future scenario, consistent with the Company's previous announcements.

Whilst the Company has progressed with its audit, it will not complete the audit by 30 June 2018 and publish its annual audited accounts by that date. As a result, the Company's shares will be suspended from trading on AIM from 2 July 2018. If agreements with creditors is achieved, the Company expects to publish its annual results and would request that the suspension to trading be lifted at that time.

Further to its previous announcement on 30 April 2018, the Company reminds shareholders that it became an AIM Rule 15 cash shell following completion of the sale of Flow Energy on 1 May 2018 and, therefore, has until 1 November 2018 to undertake a reverse takeover to maintain its listing on AIM, if applicable.

MAR

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

Enquiries:

 
 Flowgroup plc                                                         www.flowgroup.uk.com 
 Alan Lovell, Chairman                                                  Tel: [phone] 
                                                                                       3637 
 Nigel Canham, Chief Financial Officer 
 
 Cenkos Securities plc (NOMAD and Broker)                               Tel: [phone] 
                                                                                       8900 
 Stephen Keys/Mark Connelly/Callum Davidson 
  (Corporate Finance) 
 
 
 Walbrook PR Ltd (Media Relations)     Tel: [phone] or [e-mail] 
 Paul McManus                                                          Mob: [phone] 
                                                                                        893 
 Nick Rome                                                             Mob: [phone] 
                                                                                        236 
 
 

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June 20, 2018 12:08 ET (16:08 GMT)