FCA Results Guidance and COVID-19 Update

RNS Number : 4585H

Centamin PLC

25 March 2020

 

25 March 2020

Centamin plc  

("Centamin" or "the Company")

(LSE:CEY, TSX:CEE)

FCA Results Guidance and COVID-19 Update

Financial Conduct Authority ("FCA") moratorium on publication of results

On 21 March 2020, the FCA issued a strong request to all London listed companies to observe a moratorium on the publication of financial statements for a minimum of two weeks, due to the unprecedented global outbreak of coronavirus ("COVID-19").

In accordance with the FCA's request, Centamin will postpone publishing its 2019 Annual Results, for the twelve months ended 31 December 2019. As soon as we are advised by the FCA on updated timing, the Company will announce the date for the publication of its 2019 results.

For more information on the FCA request, please visit: https://www.fca.org.uk/news/statements/fca-requests-delay-forthcoming-announcement-preliminary-financial-accounts .

COVID-19

During these times of global uncertainty, our first priority is securing our corporate borders to protect the health, safety and wellbeing of our employees and communities. As of 24 March 2020, Centamin has no cases of COVID-19 amongst its workforce and has experienced no material disruption to operations, supply chain or gold shipments.

Early action was taken at Sukari, in line with our Severe Communicable Disease Outbreak Management Plan and the advice of governments and health authorities, to cease non-essential travel, adjust and manage on-site rosters, enable employees to work from home where possible, educate the workforce on the virus (symptoms and preventative measures), cease non-essential visitors, establish multiple mandatory checkpoints (Marsa Alam airport, community centre and mine gate) for possible symptoms and travel history screening for all visitors. Measures are in place to ensure all countries in which our people are located follow the advice of local government and health authorities.

A COVID-19 Executive Committee has been established with a clear management and site support framework in place, including daily workforce and supply chain risk reviews. As with many countries globally, Egypt has temporarily closed the national borders to civilian travel until 15 April 2020, but borders remain open to goods and supplies. To date, we have experienced no supply disruptions and have sufficient internationally sourced critical supplies stockpiled for the next quarter. We maintain open dialogue with our key international and domestic suppliers and, as a matter of caution, have assessed alternative potential supply channels. As the pandemic progresses we will continue to monitor the situation closely and will adapt our policies, procedures and controls to minimise potential impacts, within our control, to our business.

Centamin is a strong, resilient business with zero debt and US$348.9 million in cash and liquid assets, as at 31 December 2019.  

For more information, please visit the website www.centamin.com or contact:

Centamin plc Ross Jerrard, CEO Alexandra Carse, Investor Relations [phone] [e-mail]

Buchanan Bobby Morse Chris Judd Kelsey Traynor + 44 (0) 20 7466 5000 [e-mail]

 

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