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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of Earliest Event Reported):
(Exact Name of Registrant as Specified in its Charter)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
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Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Title of Each Class: | Trading Symbol(s): | Name of Each Exchange on | ||
Item 8.01. Other Events.
APC Contract and Notice to Proceed
On October 21, 2021, Argan, Inc. (“Argan”) issued a press release announcing that its wholly owned subsidiary, Atlantic Projects Company (“APC”), recently entered into an engineering and construction services contract with EPUKI London, UK, to construct a 2 x 330 MW natural gas-fired power plant in Carrickfergus, Belfast, Northern Ireland. A notice to proceed has been received with certain project activities having commenced.
A copy of Argan’s press release is attached to this report as Exhibit 99.1 and is incorporated herein by reference.
Legal Settlement
In September 2021, Argan’s wholly owned subsidiary, Gemma Power Systems (“GPS”), reached a final settlement of all outstanding claims between GPS and its customer for the West Medway power project resulting in a payment to GPS in excess of previously reported receivables and contract assets. Management believes that the combination of the settlement with its customer and final project close-out activities will result in a positive cumulative catch-up adjustment for the quarter ending October 31, 2021; however, an amount has not been determined at this time.
Item 9.01. Financial Statements and Exhibits
(d)Exhibits
Exhibit No. |
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99.1 |
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104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| ARGAN, INC. | ||||
Date: October 21, 2021 |
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| By: |
| /s/ David H. Watson | |
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| David H. Watson | |||
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| Senior Vice President, Chief Financial Officer, Treasurer and Secretary | |||
