TransCentury PLC has announced it will delay releasing its audited financial statements for the year ended 31st December 2019. The firm attributes the delay to the incomplete audit of its subsidiary, East African Cables PLC.
CMA has approved the extension to file and publish the results at a later date. TransCentury says that the audited financial statements shall be published no later than 31st July 2020.
East African Cables announced it would delay publishing its results due to ongoing discussions with its creditors.
Last week, EA Cables said it had reached an agreement with SBM bank involving a restructuring of the outstanding debt owed to the bank under a new long-term facility and security arrangement.