AE1 0.00% 10.0¢ aerison group ltd

From the Annual Report. Could this be the cause? If not they...

  1. 2,324 Posts.
    lightbulb Created with Sketch. 700
    From the Annual Report. Could this be the cause? If not they seem to have a lot of problems with contracts.

    Footnote A4
    In a prior period, the Group entered into a tender period for early contractor involvement(ECI) for the preliminary design a plant. On completion of the ECI, the Group was awarded an EPC contract for the design and construction of the plant. In consultation with the customer, hazard and operability studies, operational and engineering improvements were identified post ECI. Engineering changes from the initial ECI process to the actual plant design were approved by the customer.These changes significantly increased the complexity and sequencing of construction activities. Materials and labour required to execute works under construction also increased. The Group is in the process of agreeing contract modifications with the customer arising from these variations. The corresponding change in price has not yetbeen finalised but is expected prior to practical completion.The finalisation of the contract modifications may materially impact the financial performance of the Group.
 
watchlist Created with Sketch. Add AE1 (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.