Espoo, 2015-03-03 16:45 CET (GLOBE NEWSWIRE) --
TRAINERS' HOUSE PLC, STOCK EXCHANGE RELEASE, 3 MARCH 2015 AT 17:45
The Auditor of Trainers’ House Plc has today given the Auditor’s report for company’s financial statements for the year 2014.
In addition to the Auditor’s standard report, the report contains the following statements:
”Emphasis of matter
We draw the attention to the Board of Directors’ report and notes to the consolidated financial statements, according to which Company – after being accepted into debt restructuring process – is working together with the Administrator in order to find appropriate financing solutions for the Group going forward. According to Board of Directors’ report the Board of Directors, Management and the Administrator do not contemplate the liquidation of the Company. As such, the Directors and Management believe that a going concern basis of presentation is appropriate. The Board of Directors further state that at the date of the financial statements it is not possible to foresee whether Trainers’ House will be able to execute its financing, restructuring and operational plans or whether the execution of these will improve the Group’s financial condition sufficiently to allow it to continue as a going concern. These circumstances, along with other matters explained in the Board of Directors’ report and notes to the consolidated financial statements indicate the existence of a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern. Our opinion is not qualified in respect of this matter.”
The Auditor’s Report is fully attached to this stock exchange release. The company will release the Finnish annual report and financial statements for the year 2014 on 4 March 2015.
TRAINERS' HOUSE PLC
Contact details:
Saku Keskitalo
Investor relations, tel. +358 40 411 1111
