ESGTI AG Faces Liquidity Issues, Disagrees with Auditors' Going Concern Assessment

ESGTI AG, a Swiss-based agribusiness and agri-tech company, made an additional announcement on March 19, 2024, supplementing its previous statement from March 15, regarding its audited annual report for the 2022 fiscal year. This report, now publicly accessible online, reveals auditors' concerns over the firm's status as a going concern. Due to existing liquidity difficulties that ESGTI AG has yet to convincingly demonstrate it can overcome, auditors suggested preparing the company's annual financial statements based on liquidation values.

This recommendation could potentially lead ESGTI AG into overindebtedness as per Article 725b of the Swiss Code of Obligations. Contrarily, ESGTI AG’s Board of Directors challenges the auditors' position, indicating a divergence in viewpoints regarding the company’s financial health. ESGTI AG operates in various sectors, including green energy and environmental technologies, and is listed on the BX Swiss exchange.