Ekosem-Agrar AG Releases 2022 Financial Statements with Auditor Disclaimers

Ekosem-Agrar AG, the German parent company of Russia's EkoNiva Group, disclosed its 2022 Annual Report amidst challenges, including unresolved auditor disclaimers similar to previous years. These disclaimers, issued by DWP AG Wirtschaftsprüfungsgesellschaft, cite significant uncertainties primarily due to the ongoing Russia-Ukraine conflict and financial complications. The audits suggest an inability to substantiate control over Russian subsidiaries and their financial resources due to external banking and conflict-related impediments.

Furthermore, the report details an immediate initiative urging the bondholders of Ekosem-Agrar bonds 2012/2027 and 2019/2029 to participate in voting for a bond restructuring plan. The company emphasizes the importance of bondholder presence at the upcoming May meetings for the necessary quorum. An insufficient quorum will lead to subsequent meetings planned for early June 2024, stressing the critical nature of bondholder engagement during this period.

For stakeholders unable to attend personally, representation options and voting procedures are detailed on the company's website, ensuring accessible participation in the restructuring votes. The financial statements, challenges, and ongoing resolutions are accessible for further review on the Ekosem-Agrar AG official website.