June 30, 2020 / 5:55 AM / 11 days ago

BRIEF-AAP Implantate Refusal Of Audit Opinions For FY Report

AAP IMPLANTATE AG:

* SAID ON MONDAY, REFUSAL OF AUDIT OPINIONS FOR ANNUAL FINANCIAL REPORT 2019 (HGB) AND CONSOLIDATED ANNUAL FINANCIAL REPORT 2019 (IFRS)

* IMPLEMENTATION OF VARIOUS FINANCING AND COST-SAVING OPTIONS TO SECURE FINANCING

* IN THE AUDITOR’S VIEW UP TO THE TIME OF BALANCE SHEET MEETING NO SUFFICIENT EVIDENCE PRESENTED THAT AAP’S FINANCING IS SECURED FOR 12-MONTH PERIOD

* AUDITOR WILL ISSUE A NOTE OF REFUSAL DUE TO OBJECTIONS TO THE ACCOUNTING ON THE ASSUMPTION OF CONTINUATION OF BUSINESS ACTIVITY (SO-CALLED GOING CONCERN)

* CURRENTLY UNDERGOING A COMPREHENSIVE RESTRUCTURING AND REFINANCING PROCESS TO SECURE THE COMPANY’S CONTINUED EXISTENCE AND FUTURE VIABILITY

* COMPANY IS EXAMINING A PARTIAL SALE OF EXCESS CAPACITY OF THE MACHINERY

* AT AGM TO PROPOSE AN ORDINARY CAPITAL DECREASE

Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

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