PRESS RELEASES | Jun 16, 2018

Announcement

Athens, 15.06.2018

Regarding the recent developments, the management of FF Group considers the Hellenic Capital Market Commission’s position that the Group refused to carry out a full audit is a product of misunderstanding, as our Group has done everything in its capacity to do so.

On the specific issues raised by the Hellenic Capital Markets Commission we report the following:

  1. As already known and in order to safeguard the interests of the Group and investors, we requested the international auditing company EY, in full cooperation with the Hellenic Capital Market Commission, to conduct a full audit of the Group companies.
  2. EY for its own reasons did not proceed with a full audit and proposed agreed upon audit procedures for specific accounts of the financial statements for the year 2017. This is how the respective contract was signed. At the same time, EY proposed that FF Group should appoint an internationally established company for a specialized forensic audit. The Group agreed to proceed with this immediately, the contract is scheduled to be signed during next week, and will be announced officially, similarly a copy of the respective contract will be provided to the Supervisory Authority.
  3. Concerning the announcement of the Hellenic Capital Market Commission regarding the implementation of another extraordinary audit, we consider as unfounded, given that our Group has taken all the above actions in order to ensure the interests of the Group and the investors.

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