General assembly of Agrokor Group companies
Apr 27, 2017
Agrokor d.d., which entered into Extraordinary Administration pursuant to the Law on the Procedure for Extraordinary Administration of Companies with Systemic Importance for Republic of Croatia (the “Extraordinary Administration Act”) (Agrokor d.d. together with its subsidiaries under Extraordinary Administration listed in Schedule A the “Group”), hereby announces the following:
The Extraordinary Commissioner has today requested that certain Group companies convene its general assemblies. Such general assemblies are expected to be held within 15 days from today. The purpose of the meeting is to resolve on the appointment of PricewaterhouseCoopers LLP as the new statutory auditors for the Group to conduct the audit for the financial year 2016.
The Group, working closely with its advisors, has identified in preliminary investigations that there could be potential errors in the Group’s accounts. These investigations are currently continuing. As a result, the Group requests that stakeholders not rely on its historical financial statements until the investigation has been completed and the situation clarified accordingly. As outlined above, the Group intends to appoint PricewaterhouseCoopers LLP to perform an audit of the Group’s 2016 financial statements. This appointment will result in the need for an extension for the release of audited financial statements for 2016. The Group expects to issue a further announcement on the progress of processes initiated within the next 30 days.
Agrokor d.d. wishes to draw the attention of all creditors to the fact that due to the moratorium under the Extraordinary Administration Act, initiating any type of enforcement action, commencing litigation, pursuing any legal remedies and undertaking similar actions against the Group is expressly prohibited during the course of the Extraordinary Administration.