New Fortress Energy pushes quarterly report filing due to delay in Jamaica business sale
May 13 (Reuters) - U.S.-based LNG company New Fortress Energy NFE.O said on Tuesday it would push its quarterly filing with the U.S. securities regulator due to a delay in completing the previously announced sale of its business in Jamaica.
Shares of the company fell 3.8% in after-hours trading.
In March, Excelerate Energy agreed to buy New Fortress Energy's Jamaica business for $1.06 billion in cash, with the transaction expected to close in the near term.
The company began exploring various options last year, which included bringing in strategic partners or selling assets, after it was forced to defer shareholder dividend payments while negotiating with bondholders to address near-term debt maturities.
New Fortress added that the extension was partly a result of the resignation of its accounting chief, effective April 29, which diverted time and resources from the routine preparation and review of quarterly reports.
The company now intends to file its quarterly reports within the five-day extension window, beyond the prescribed time period.
Earlier this week, the company postponed its first-quarter results announcement from May 12 to May 14, with the intention of announcing the completion of the Jamaica transaction and updating on the use of proceeds.
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