WSE suspends trading with Milkiland, KDM Shipping, Sadovaya Group shares

imageThe Warsaw Stock Exchange (WSE) on May 4, 2017 suspended trading with shares of Milkiland N.V. (the Netherlands, the holding company of Milkiland Group). 

Suspended was also trading with shares of KDM Shipping Public Ltd. (Cyprus, the holding company of the leading Ukrainian shipping operator Capital Shipping Company LLC) and Sadovaya Group S.A. (Luxembourg, the holding company of Sadovaya Group).

The WSE said that the decision was made by its board on May 4, as the companies delayed the publication of their financial reports for 2016.

Trading will be resumed after publication of the reports by the companies.

Earlier Milkiland said that the company received the information from the company’s auditors regarding the additional time required for issuance of an independent auditors report on the consolidated financial statements of Milkiland Group as at December 31, 2016. The publication of the annual report of Milkiland Group for 2016 is postponed until May 31, 2017.

The reason for this is the necessity of the additional assessment by the auditors of recently initiated legal case on bankruptcy of JSC Ostankino Dairy Combine, the main subsidiary of the group in Russia, and on-going restructuring of the Russian segment of the group’s business.

interfax.com.ua

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