J.Molner AS comments on the observation status applied on J.Molner AS shares on March 10, 2023 by Nasdaq Tallinn Tallinn, 2023-03-17 08:30 CET --
On March 10, 2023 J.Molner AS (‘Company’) published its annual interim unaudited reports for 12 months of financial year 2022 for the Company and its operating subsidiary, The J. Molner Company OÜ, on an unconsolidated basis as guided by NASDAQ Tallinn, the Exchange rules, and the prior practice of market participants. The Company provided the two unconsolidated accounts together with the guidance to review them together.
Investors are requested to review the accounts together to inform themselves on the financial situation of the Company group as a whole as of December 31, 2022.
On March 10, 2023 an observation status was applied to J.Molner AS shares by the decision of Nasdaq Tallinn management board based on clause 3.5.4.8. of chapter Supervision of the rules and regulations on the grounds that the net assets of The J. Molner Company OÜ do not comply with the requirement of the Commercial Code.
The Company notes that as of December 31, 2022, the parent company, J. Molner AS had a positive equity position of EUR 2,155,060 and the subsidiary, The J. Molner Company OÜ had a negative equity position of EUR 195,351. On a proforma basis, the Company group as a whole had a positive consolidated equity position in compliance with the rules of the Exchange. The Company will provide a fully consolidated statement of accounts, as per market practice, with its first half year financials for 2023 later this year.
The Company has not changed its prognosis for 2023 as provided in its Company Description document of October 12, 2022. A more detailed account of financial year 2022 will be provided at its Annual Meeting of Shareholders to be announced for April, 2023.
For additional information please contact:
Jason Grenfell-Gardner
J.Molner AS
Management Board member
+372 536 00 346
jason@jmolner.com
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