TRADER MEDIA EAST LIMITED TRADER MEDIA EAST LIMITED
RESTATEMENT OF 2017 FINANCIAL STATEMENTS
Amsterdam, The Netherlands - 30 April 2019
The Board of Directors of Trader Media East Limited ("TME") refers to the restatement in Audited Consolidated Financials for the year ending December 31, 2017.
A financial due diligence engagement has been initiated on TME and its subsidiaries upon acquisition of Hürriyet Gazetecilik by Demiroren Group. Through the process of the above mentioned engagement, reasonable doubt has been established that an investment property of TME's operational subsidiary, Pronto Media Holding LLC ("PMH") was disposed on 21 November 2017 with no evidence of proper authorization from the Board. Maximum risk exposure arising from this disposal is estimated around USD 278.000.
The matter is being approached with due care by the current management of TME and appropriate steps to initiate legal actions has been taken to recover the property. Following completion of the legal process, if necessary, required disclosures shall be made and further information shall be provided to the public in due course.
A copy of this statement will be made available on the Regulatory News segment of the London Stock Exchange.
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Trader Media East Ltd. published this content on 30 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 April 2019 17:02:06 UTC
