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Ascent Industries delays annual meeting as it works to complete 2018 financials

The company said it is 'committed to working with its auditors to complete the year-end audit as soon as possible' in a statement

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Ascent's operations currently include facilities in Oregon and Nevada

Ascent Industries Corp (CSE:ASNT) (OTCMKTS:PGTMF) said Thursday it is delaying its annual meeting as it works to file its financial statements with regulators.

The company noted it has missed its annual financial statements and other documentation within 120 days of Dec. 31, 2018 as required by Canadian security regulators, under National Instrument 51-102. 

The firm noted in a statement its management is "committed to working with its auditors to complete the year-end audit as soon as possible." 

Ascent is currently involved in proceedings under the Companies Creditors Arrangement Act.

READ: Ascent Industries reaches agreement with concerned shareholder group; Paul Dillman appointed interim CEO

Due to the delayed filing in its annual financials, Ascent noted it will delay the annual meeting and the special meeting of shareholders, which the company previously announced it would hold on June 6, 2019. The company says the meeting will now be held separately and it will provide shareholders with details of the general meeting as soon as possible. 

The firm noted shareholders are not required to take any action at this time in respect of either meeting. The company will prepare a management information circular in connection with the special meeting, which it intends to circulate to shareholders by the last week of May. 

Ascent shares have been halted since March. 

Contact Katie Lewis at katie@proactiveinvestors.com

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CSE:ASNT
Market: CSE
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