FOX E-MOBILITY AG EQS-Adhoc: fox e-mobility AG: Audit certificate for annual financial statements 2021 available – Going-Concern dependent on restructuring
Transparency directive : regulatory news
16/12/2022 15:21
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EQS-Ad-hoc: fox e-mobility AG / Key word(s): Annual Results
fox e-mobility AG: Audit certificate for annual financial statements 2021 available – Going-Concern dependent on restructuring
16-Dec-2022 / 15:21 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
fox e-mobility AG: Audit certificate for annual financial statements 2021 available – Going-Concern dependent on restructuring
Munich, 16 December 2022 – The Management Board of fox e-mobility AG (DE000A2NB551) announces that the auditor Dr. Kleeberg & Partner, Munich, appointed in September 2022, has audited the annual financial statements and management report 2021 and certified them with an unqualified audit opinion dated 14. December 2022. The Supervisory Board today approved the annual financial statements in accordance with § 172 AktG. Publication will take place today on the company website and subsequently in the Federal Gazette. The report about the annual financial statements will be made at the Annual General Meeting scheduled for 31 January 2023.
The auditor's report highlights the material uncertainty relating to Going-Concerns. The maintenance of solvency and thus the going concern assumption depends on the financial support and capitalisation provided by external capital providers. In addition, the recoverability of the investment in Fox Automotive Switzerland AG as well as the loans given to it depends on the realisation of the business plan prepared for MIA 2.0.
The company has a cash requirement of 1.95 million euros to maintain its going concern status until the end of 2023. In this regard, the company has already received financing commitments of 1.55 million euros, of which 1.35 million euros are conditional on a change in the corporate structure to be implemented by the second quarter of 2023. The difference of 400 thousand euros is not yet secured but a commitment is expected in the short term.
The restructuring measures include the conversion of the legal form of the Company into an Irish public limited company (PLC), which will remain listed on the Düsseldorf Stock Exchange with a future secondary listing on Euronext. The restructuring plan will be presented in detail at the Annual General Meeting scheduled for 31 January 2023 and will subsequently be approved by shareholders at an Extraordinary General Meeting.
16-Dec-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
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| Language: |
English |
| Company: |
fox e-mobility AG |
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Herzogspitalstraße 24 |
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80331 München |
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Germany |
| Internet: |
www.fox-em.com |
| ISIN: |
DE000A2NB551 |
| WKN: |
A2NB55 |
| Listed: |
Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg |
| EQS News ID: |
1515485 |
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| End of Announcement |
EQS News Service |
1515485 16-Dec-2022 CET/CEST
