Company files Form 12b-25 with the SEC to extend the due date of its Annual Report on Form 20-F
NEW YORK, June 15, 2020 (GLOBE NEWSWIRE) -- Brooge Energy Limited (“Brooge Energy” or the “Company”) (NASDAQ: BROG), a midstream oil storage and service provider strategically located outside the Strait of Hormuz, adjacent to the Port of Fujairah in the United Arab Emirates (“UAE”) through its wholly-owned subsidiary Brooge Petroleum and Gas Investment Company FZE (“BPGIC”), announced today it has filed a Form 12b-25, a Notification of Late Filing, with the Securities and Exchange Commission in order to extend the due date of its Annual Report on Form 20-F for the period ended December 31, 2019 for fifteen calendar days, as permitted by Rule 12b-25 under the Securities Exchange Act. The Company currently expects that it will file the Annual Report on or before June 30, 2020, the expiration date of the fifteen calendar day extension period.
In its Form 12b-25 filing the Company has advised that its Annual Report on Form 20-F (the “Annual Report”) for the year ended December 31, 2019 could not be filed without unreasonable effort and expense. Specifically, the Company requires additional time to compile, review and prepare certain information in its financial statements following delays resulting from the COVID-19 pandemic. The Registrant expects to file the Annual Report within the time period permitted by SEC Rule 12b-25.
Brooge Energy’s management will host a conference call at 8:00 am ET (4:00pm UAE) on July 7, 2020. The conference call will be in the format of a questions and answers session and will address any queries investors have regarding the Company’s reported results.
Conference Call Information
| Date: | July 7, 2020 |
| Time: | 8:00 a.m. ET / 4:00pm UAE |
| Dial-in numbers: | +1 877-425-9470 (U.S.), 800 035 703 290 (UAE), +1-201-389-0878 (International) |
| Instructions: | Request the “Brooge Energy Call” |
| Live webcast: | http://public.viavid.com/index.php?id=140122 |
A dial-in replay of the call will also be available, to those interested, until July 14, 2020. To access the replay, dial +1 844-512-2921 (United States) or +1 412-317-6671 (International) and enter replay pin number: 13704653.
About Brooge Energy Limited
Brooge Energy, formerly known as Brooge Holdings, conducts all of its business and operations through its wholly-owned subsidiary Brooge Petroleum and Gas Investment Company FZE (“BPGIC”), a Fujairah Free Zone Entity. BPGIC is a midstream oil storage and service provider strategically located outside the Strait of Hormuz adjacent to the Port of Fujairah in the United Arab Emirates. BPGIC’s oil storage business differentiates itself from competitors by providing its customers with fast order processing times, excellent customer service and high accuracy blending services with low oil losses. For more information please visit www.broogeholdings.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties concerning BPGIC’s and Brooge Energy’s expected financial performance, as well as their strategic and operational plans. The actual results may differ materially from expectations, estimates and projections due to a number of risks and uncertainties and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “would,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These risks and uncertainties include, but are not limited to: (1) the ultimate geographic spread, duration and severity of the coronavirus outbreak and the effectiveness of actions taken, or actions that may be taken, by governmental authorities to contain the outbreak or ameliorate its effects; (2) BPGIC’s ability to obtain financing for Phase III on commercially reasonable terms; (3) BPGIC’s ability to negotiate and enter into development and offtake agreements on commercially reasonable terms; (4) the results of technical and design feasibility studies, including the Phase III FEED study; (5) the loss of any end-users; (6) changes in customer demand with respect to ancillary services provided by BPGIC including throughput, blending, heating, and intertank transfers; (7) BPGIC’s ability to effectively manage the risks and expenses associated with the construction of Phase II, Phase III and other growth and expansion projects; and (8) other risks and uncertainties indicated from time to time in filings with or submissions to the SEC by Brooge Energy. Readers are referred to the most recent reports filed with or furnished to the SEC by Brooge Energy. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contact
KCSA Strategic Communications
Valter Pinto / Elizabeth Barker
+1 212-896-1254 or +1 212-896-1203
BROG@kcsa.com