Notice of disclosure of annual financial statements for 2019

30.03.2020

Outgoing No. A108 / 30.03.2020

 

TO

FINANCIAL SUPERVISION COMMISSION - Sofia, 16, Budapest Str.

 

To the attention of: Maria Filipova / Vice President, Head of Investment Supervision Department /

 

TO THE INVESTORS AND THE PUBLIC

  

NOTICE

 

by Radoslav Iliev Manolov from Sofia - Executive Director of Advance Terrafund REIT, with registered office and address of management Republic of Bulgaria, Sofia, Lozenets District, 1, Zlatovrah Str.,

 

Subject: Disclosure of certified annual financial statements for 2019

 

DEAR DEPUTY CHAIRMAN,

DEAR INVESTORS,

 

We would like to inform you that in Advance Terrafund REIT we strictly follow the measures adopted in the country according to the Decision of the National Assembly of 13.03.2020 declaring a state of emergency, the Law on measures and actions during a state of emergency, announced by a decision of the National Assembly of 13 March 2020, as well as the regulations of the World Health Organization and the Ministry of Health, which is why we have created an internal organization to ensure and guarantee the smooth functioning of the company in these difficult for all of us times.

In this regard, as every year, we have taken all the necessary steps in time to prepare the annual financial report for 2019 and submit it for independent financial audit by the registered auditor chosen by the General Meeting of Shareholders.

In view of the established state of emergency, the remote work regime, introduced in accordance with the requirements of the Labor Code at Advance Terrafund REIT and its servicing company - Karoll Finance Ltd. and the difficult communication and exchange of documents with the registered auditor Ernst & Young Audit Ltd. will have some delay in completing the independent audit, which will accordingly affect and delay the public disclosure of the 2019 annual financial statements.

We are in constant contact with the auditing company and we have the assurance that the audit will be completed as soon as possible and we will be able to disclose the audited financial statements for 2019 in the established manner no later than April 10, 2020.

The management shall make every effort to do this even before the stated date, for which all interested parties will be informed in due time.

 

Sofia                                                                                    With respect,

03/30/2020                                                                       Executive Director: _________________

      / Radoslav Manolov /

© 2020 Advance Terrafund

Website by