-DECISION NOT TO DECLARE A SECOND SEMI-ANNUAL DIVIDEND IN 2023-
In the third quarter of 2023 the Company expects to record an unaudited non-cash expected credit loss provision of approximately $3.6M on a pre-tax basis related to the aging of the Company's trade receivables in respect of certain customers. The Company also expects in the third quarter unaudited revenue of approximately
The Board of Directors has therefore decided not to declare the second semi-annual dividend in 2023. The dividend position will be reviewed again in 2024. The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors.
The unaudited results for the third quarter ended
(1) EBITDA = earnings before interest, taxes, depreciation and amortization. |
About Geodrill Limited
Geodrill has been successful in establishing a leading market position in
Forward Looking Information
This press release may contain "forward-looking information" which may include, but is not limited to the future financial or operating performance of the Company, its subsidiaries, future growth, results of operations, performance, the issuance of dividends in the future, business prospects, and opportunities. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations (including negative variations) of such words and phrases, or by the use of words or phrases that state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release including, without limitation those described in the Management's Discussion & Analysis for the year ended
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