Ezion Holdings requests for time extension for release of FY2017 financial statements

EZION Holdings announced late on Thursday that it has applied for an extension of 30 days for the release of its FY2017 financial statements, from the original deadline of March 1 2018 to March 31 2018.

The company says that a fair and objective view of its financial position can be established only when the outcome of the refinancing exercise becomes clear and definitive subsequent to the expected EGM to be held in March 2018.

It is finalising its refinancing exercise of itself and its subsidiaries regarding all of their current secured and unsecured debts to strengthen their cash flow and working capital position.

The company is in discussions with various stakeholders such as bank lenders in light of the anticipated challenges to the cash flow of the group and has been arranging a series of informal meetings with its lenders and holders of securities issued by the company for its US$1.5 billion Multicurrency Debt Issuance Programme.