NASDAQ OMX Riga decided on July 23, 2014 to change the reason due to which the observation status is applied to AS “VEF Radiotehnika RRR” (RRR1R, ISIN code: LV0000100972).
The reason due to which the observation status was applied as of May 6, 2014 in accordance with NASDAQ OMX Riga Listing and Disclosure rules Article 20.1.2, Subarticle 5 has ceased to exist. The company has submitted its audited annual report for 2013 in Latvian and English.
Simultaneously NASDAQ OMX Riga informs that observation status as of July 23, 2014 is applied only in accordance with NASDAQ OMX Riga Listing and Disclosure rules Article 20.1.2, Subarticle 9 only, as independent auditor’s report describes several issues resulting in auditor’s refusal to issue the opinion on the financial report. The auditor expresses concerns about the issuer’s ability to continue its operations as its short term liabilities significantly exceeds its short term assets. Therefore the auditor was not able to obtain sufficient and appropriate evidence for audit which would allow to issue the opinion on the financial statement, thus the opinion of the auditor on AS “VEF Radiotehnika RRR” annual report of 2013 was not expressed.
The purpose of applying observation status is to alert the market participants.
NASDAQ OMX Baltic is a common name for exchanges, regulated markets, alternative First North markets operated by NASDAQ OMX companies in the Baltic States, i.e. NASDAQ OMX Tallinn AS, NASDAQ OMX Riga AS and AB NASDAQ OMX Vilnius.