APR Energy PLC Update on Yemen and Libya (7725V)
12 Agosto 2015 - 3:00AM
UK Regulatory
TIDMAPR
RNS Number : 7725V
APR Energy PLC
12 August 2015
12 August 2015
APR Energy plc
Update on Yemen and Libya
APR Energy plc (LSE: APR), a global leader in fast-track power
solutions, (the "Group") today updates the market on the
demobilisation of its modular power assets in Yemen.
During the first quarter, the Group terminated its 60MW diesel
project in Yemen following the escalating conflict in that country.
Due the inability to enter Yemen to safely demobilise and remove
the assets, the Group has taken a second-quarter write-off of
approximately $24 million.
The assets in Yemen are insured. The Group intends to continue
to pursue all avenues to preserve and recover them. The Group will
provide the market with updates in due course.
The Group also announces that it received a payment of $10.7
million to cover a portion of the receivables outstanding from its
Libyan contract. The Group terminated its operations in Libya in
the first-quarter of 2015, due to not receiving government
ratification of its contract. The receipt of the receivable has
been included in the Group's second-quarter financials.
Ends
Enquiries:
APR Energy plc
Lee Munro (investors) + 1 904 404 4576
Manisha Patel (investors) + 1 904 517 5135
Alan Chapple (media) + 1 904 223 2277
CNC Communications
Richard Campbell +44 (0) 20 3219 8801 / +44 (0) 7775 784 933
Michael Kinirons +44 (0) 20 3219 8803 / +44 (0) 7827 925 090
About APR Energy
APR Energy is the world's leading provider of fast-track mobile
turbine power. Our fast, flexible and full-service power solutions
provide customers with rapid access to reliable electricity when
and where they need it, for as long as they need it. Combining
state-of-the-art, fuel-efficient technology with industry-leading
expertise, our scalable turnkey plants help run cities, countries
and industries around the world, in both developed and developing
markets. For more information, visit the Company's website at
www.aprenergy.com.
Certain statements included in this announcement constitute, or
may constitute, forward-looking statements. Any statement in this
announcement that is not a statement of historical fact (including,
without limitation, statements regarding the Company's future
expectations, operations, financial performance, financial
condition and business) is or may be a forward-looking statement.
Such forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from those projected or implied in any forward-looking statement.
These risks and uncertainties include, among other factors,
changing economic, financial, business or other market conditions.
Although any such forward-looking statements reflect knowledge and
information available at the date of this announcement, reliance
should not be placed on them. Without limitation to the foregoing,
nothing in this announcement should be construed as a profit
forecast.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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