The Company also announces that it expects to be delayed in reporting its audited consolidated financial statements for the year ended
The delays arise from the difficulties that the Company has faced in identifying a suitable auditor due to the material changes in the Group’s portfolio of assets. For the 2023 PCAOB Audit in particular, the Company is required to identify an auditor who meets the principal auditor requirements under the PCAOB auditing standards and is a PCAOB-registered auditor in order to either perform (or assume responsibility for) the audit work in the countries where it had major assets or revenue in 2023, or alternatively divide responsibility with other auditors who are PCAOB-registered. A suitable auditor that is qualified to provide these services in the countries where VEON operates has not yet been identified.
As a result of the anticipated delays in its filings, the Company expects that it will not be in compliance with its listing requirements once the applicable deadlines have passed, and will focus on regaining compliance as soon as practicable.
VEON also expects to be delayed in delivering the audited consolidated financial statements of its subsidiary,
The Company will provide further updates in the future on its progress and the status of the matters mentioned herein. As previously announced, VEON will release its unaudited selected financial and operating results for the fourth quarter and the twelve months ended
Important Notice
Elements of this press release contain or may contain “inside information” as defined under the Market Abuse Regulation (EU) No. 596/2014.
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. Headquartered in
Disclaimer
This release contains “forward-looking statements,” as the phrase is defined in Section 27A of the
The Company cautions that its forward-looking statements are based on its current expectations and assumptions, which are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to, the risk that the Company may not be able complete the 2023 Audit within a reasonable timeframe, the risk that the Company may face legal or regulatory actions, penalties, or sanctions as a result of the delay in its 2023 Audit (including delisting if the Company is not able to agree a plan to regain compliance with its reporting obligations or does not regain compliance within the time period required by Nasdaq), risks associated with obtaining the relevant consents from its creditors and noteholders, the risk that the Company may lose the confidence or support of its customers, suppliers, employees, or investors as a result of the delay in its 2023 Audit, and other risks and uncertainties described in the Company's filings with the
Contact Information:
Group Director of Communication
pr@veon.com
Group Director of Investor Relations
ir@veon.com
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