GeoJunxion NV (ticker: GOJXN.AS) Formerly called AND International Publishers NV (AND.AS) Publishes its Auditor and Financial update H1 2021
09 September 2021 - 4:30PM
GeoJunxion NV (ticker: GOJXN.AS) Formerly called AND International
Publishers NV (AND.AS) Publishes its Auditor and Financial update
H1 2021
Capelle aan den IJssel, the Netherlands,
9 September 2021: While GeoJunxion’s business continues to
show strong resilience and improved performance as well as a very
encouraging YoY topline growth during H1 2021, we regret to
communicate that, in spite of very extensive efforts, it has not
been possible to contract a PIE/OOB-licensed auditor for the audit
of our June 2020/21 Consolidated Financial Statements.
The Company will therefore be forced to publish
its Consolidated Financial Statements without an auditor’s opinion.
The Supervisory and Management Board regret this outcome and want
to stress that the reasons and considerations of the audit firms
not to serve the Company are completely outside of their
control. In fact, they find the root cause in the strict
application of the legislation for PIEs/OOBs, as well as in the
apparent scarce resources within PIE/OOB-licensed audit firms.
The last audit firm Mazars, GOJXN’s auditor up
to year 2017, is still in the so-called “cooling off”-period, and
as such not legally allowed to serve GeoJunxion as auditor for the
June 2021 accounting year. The other (five) PIE/OOB-licensed
audit firms have all decided not to offer their services, primarily
for (a combination of) reasons: limited staff capacity, commercial
and internal risk management considerations.
Furthermore, the Company wishes to stress that
it has been completely transparent in all its press releases and
communications throughout this entire process both in terms of
periodic actions taken and status of contacts and negotiations with
auditor firms.
Publication of the June 2021 Consolidated
Financial Statements is scheduled for 21 October 2021. The Annual
General Meeting of the Company’s Shareholders will be held on 16
November 2021. The convocation for this Meeting will be issued no
later than 4 October 2021.
Financial Update H1 2021
With the annual accounts not receiving the
additional assurance of being reviewed by an external auditor, the
Supervisory and Management board will continue to report results
and financial statements in a fully open and transparent way on a
quarterly basis. The H1 2021 Interim Consolidated Results is
added to this release.
The focus of the GeoJunxion management team has
been on turning the company around: Very good progress has been
made in the past months to increase order intake and build a strong
pipeline of opportunities. Booked orders have converted into
revenue during Q2 2021 and will continue to deliver revenue growth
during the remainder of the year. Efficient and effective
execution of these projects is a key factor, while keeping costs
under control. We have every confidence in the capabilities
of our teams to work diligently towards the successful completion
of our commitments.
For the full H1 2021 Interim Consolidated
Results Report, please see the attachment.
- 2021-09-09 Geojunxion NV Press Release - Auditor and Financial
Update H1 2021
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