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Noble to unveil Q2 results, PwC report earlier on Aug 10 to address allegations
NOBLE Group said on Monday that it is not aware of any financial or material business issues that might have caused its recent share price decline and volatility, and intends to unveil its results and the PwC assurance report earlier to address allegations.
The commodity group said its board been made aware of misleading information being spread about the company in what appears to be an attempt to manipulate its share price.
"The board has a duty to respond to these allegations. The board believes that all the misleading and untruthful information which has been disseminated will be fully and positively resolved by the publication of the company's Q2 results presentation; by the results of the previously announced PWC independent assurance report in connection with the carrying value of long term physical commodity contracts, and by our previously announced forthcoming "Investor Day",'' it said.
"In order to allow all market participants to have the full benefit of this key information and to address the allegations as soon as possible, the Board of Directors has decided to bring forward the publication of the Q2 results, and the PWC report findings, to Monday, August 10th.'' Both Aug 7 and 10 are public holidays in Singapore, and the Singapore Exchange will be closed.
Noble said it will provide additional disclosures around the Yancoal valuation and on the inventory sales. The information will be released as part of the Q2 results on Monday, August 10.
The "Investor Day" in Singapore referred to above will be held on a date to be announced. There will be no restrictions on third party attendance nor on questions within the time available.