Brief: Havyard Reports Deviations In Q4 Report Amouting To About NOK 100 Mln

Eqva ASA

22/03/2019 08:48

March 22 (Reuters) - Havyard Group ASA  HYARD.OL :
    * SAID ON THURSDAY IN Q4 DEVIATIONS WERE UNCOVERED 
    * DEVIATIONS GIVE SIGNIFICANT NEGATIVE ACCOUNTING EFFECT FOR
FINANCIAL STATEMENTS FOR 2018
    * DEVIATIONS MAINLY RELATE TO TWO MAJOR PROTOTYPE PROJECTS
AT
HAVYARD SHIP TECHNOLOGY'S SHIPYARD IN LEIRVIK
    * THERE IS NO BASIS FOR FURTHER OPERATIONS IN A FRENCH
SUBSIDIARY
WHICH HAS ACTIVITIES TOWARDS FRENCH SHIPYARD
    * IT WILL BE NECESSARY TO MAKE CERTAIN IMPAIRMENTS OF
FINANCIAL
ASSETS
    * OVERALL EFFECT IS EXPECTED TO RESULT IN CO BEING IN BREACH
OF
COVENANTS IN TERMS OF EQUITY AND WORKING CAPITAL

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nObi4MPD2a
    
 Further company coverage:  HYARD.OL  
   


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