EARTH Delays 2017 Financial Report to Late June, Aiming to Submit All Reports within 2019

Energy Earth Public Company Limited (EARTH) has made an announcement through the Stock Exchange of Thailand stating that the financial report for the 3rd quarter of 2017 is currently under review and the financial report for the year ended 31 December 2017 is being audited by the auditor.

The auditor has informed that in accordance with the accounting standards, the auditor has to review and audit the events subsequent to the end of the 3rd period of 2017 and after the year 2017 until the present, a period of which are longer than normal circumstance.

Therefore, the auditor requires additional time and cannot meet time requirements during April and May, whereas the auditor has also committed time with other listed companies for reviews of the 1st quarter of 2019 as previously agreed. The auditor expects to complete the review of subsequent events after 5 May 2019 and would be able to report the financial results of the 3rd quarter of 2017 and for the year 2017 within June 2019, thus, EARTH cannot submit the financial reports within April 2019.

 

For the financial report of the 1st, 2nd, 3rd quarter of 2018 and for year ended 31 December 2018, EARTH also has to delay the submission, due to the auditor needs to wait for the completion of the audit of financial report of 2017, prior to accepting the mandate to review and audit financial reports for 2018.

Meanwhile, EARTH has been granted an approval to submit the financial reports for the 1st, 2nd, 3rd quarter of 2018 and for the year ended 31 December 2018 within 6 months after the submission of the financial reports for the 3rd quarter of 2017 and for the year ended 31 December 2017. Therefore, EARTH would like to request for an extension to submit the financial reports for the 3rd quarter of 2017 and for the year ended 31 December 2017 to be within 30 June 2019.

 

EARTH also asserts that the Board of Director has duly conducted with full responsibility and ability to protect the Shareholders’ benefits. EARTH has expedited and followed up with the auditor to submit the financial reports for the 3rd quarter of 2017 and for the year 2017 to the SET soon. EARTH will submit the financial reports to the SET and the SEC, as previously informed to the SEC with the witness of the Minority Shareholders who formed under LINE group.