FESCO PLC postpones publication of its IFRS consolidated financial statements for the year 2016

02 May
FAR-EASTERN SHIPPING COMPANY PLC (“FESCO”, or the “Company” and, together with its subsidiaries, the “Group”) announces today that it has postponed the publication of its IFRS consolidated financial statements for the year 2016 in view of the ongoing discussions with respect to the restructuring of the Group's indebtedness.
Despite the completion of a significant part of the audit procedures in respect of the Company’s consolidated financial statements, the terms of the restructuring of the Group’s indebtedness remain subject to discussion with the Group’s creditors. In view of these ongoing discussions, the completion of the outstanding audit procedures and publication of FESCO’s audited consolidated financial statements will, therefore, need to be postponed until the key terms of the proposed restructuring have been agreed.

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