LONDON - Contango Holdings Plc (LSE:CGO), engaged in the Muchesu coal project in Zimbabwe, announced its audited financial results for the fiscal year ending May 31, 2024. The company has also requested the Financial Conduct Authority (FCA) to lift the suspension on its shares to allow trading to resume.
The announcement follows the completion of the company's annual audit, which has been a factor in the suspension of share trading. CEO Carl Esprey expressed anticipation for the resumption of trading and acknowledged shareholders' patience during the suspension period. "With the Final Year Results to 31 May 2024 now reported, we are now looking forward to lifting the suspension of trading subject to FCA approval," said Esprey.
Contango Holdings has indicated that significant transformations have taken place at the Muchesu site while the shares were suspended. The company plans to provide a detailed operational update coinciding with the recommencement of trading on the London Stock Exchange (LON:LSEG).
The Muchesu coal project is a key asset for Contango Holdings, with over 2 billion tonnes of coal, and the company's progress in this area is closely watched by investors and industry analysts.
Details of the financial results have been made available on the company's website, but the specifics of the financial performance were not disclosed in the press release.
Investors and stakeholders are advised to look for further updates from the company, which will be provided alongside the expected resumption of share trading, pending approval by the FCA.
The information in this article is based on a press release statement from Contango Holdings Plc.
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