Aveng - postponement of annual results

Date

The cautionary announcement dated 31 July 2017, relating to the review of long outstanding uncertified revenue, is renewed and holders of Aveng securities are advised to exercise caution in respect of this matter when dealing in Aveng securities until a further announcement is made.

The proceeds of AUD50m relating to the QCLNG award has now been received.

Following the recently announced QCLNG award at a lower than anticipated value, the Group is considering the impact of the associated write down of AUD235m, together with the likely impact of the review of the uncertified revenue, this may have on its financial statements.

Consequently, Aveng has engaged with its major funding banks in relation to the extension of its existing facilities, and these discussions are continuing. The major funding banks have indicated they remain supportive of the Group.

As a result, holders of Aveng securities are advised to exercise caution in respect of this matter when dealing in Aveng securities until a further announcement is made.

The Board has therefore decided to postpone the publication date of its annual results from 22 August 2017 to 28 September 2017.