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Wed 28 Feb 2018 13:37

Brightoil delays release of fiscal H1 results


Bunker supplier also confirms that it will not be able to publish its interim report by March 31.

Illustration of a businessman analyzing documents.
Image: File image / Pixabay
Brightoil Petroleum (Holdings) Ltd confirmed on Wednesday that it will not be able to publish its interim results for the six months ended December 31 by February 28.

The bunker supplier explained that the publication of its results for the year ended June 30, 2017, was still pending and that, as a result, it would not be able to release its financials for the first half (H1) of the fiscal year either.

Additionally, the interim report for the six months ended December 31 will not be released by March 31, Brightoil said.

As Bunker Index previously reported, trading in shares of Brightoil was halted on October 3, with the company requesting a suspension until the publication of its annual financial results, which were due to be released by September 30 under listing rules.

Brightoil said in December that work being carried out by an independent adviser to review previous transactions by the company had not yet been completed, and, as a consequence, it had not released its financial results for the year ended June 30, 2017.

The company received a letter from the Stock Exchange of Hong Kong (SEHK) at the end of last year which listed a number of conditions for the resumption of trading in shares of Brightoil to take place.

Trading in shares of the Hong Kong-listed firm remains suspended.

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