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A Portuguese listed company does not provide accounts: 'Auditors have limited access to facilities' - Mercados

A Portuguese listed company does not provide accounts: ‘Auditors have limited access to facilities’ – Mercados

Three months before the end of fiscal year 2022, Reditus continues without approving and publishing last year’s accounts.

“Reditus – Sociedade Gestora de Participações Sociais, SA, hereby informs that the previously disclosed restrictions remain in place, and for these reasons have not been able, as of September 30, 2022, to approve and publish the individual and consolidated results, relating to 2021”, The company announced, in a statement sent to the Securities Market Authority (CMVM), Saturday, October 1.

“Because auditors have limited access to facilities and information validation procedures, they alert Reditus management that closing financial statements is particularly time consuming, and therefore auditors have to finish audits,” claims tech led by Francisco Santa Ramos.

“Despite the efforts of Reditus and its auditors, the surrounding pandemic context has caused significant disruptions in the conclusion of the financial reporting process and the disclosure of its documents,” explains the company, whose main shareholder is Miguel Pais do Amaral (24.74%), followed by the Moreira Rato family ( 10.2%), according to information posted on its website.

“For these reasons, Reditus informs SGPS, S.A. that it is unable to meet the deadline for the publication of its individual and consolidated accounting documents, and estimates – based on the items currently available – that this publication will be executed during October 2022,” concludes the company, which ended the year 2020 with a loss It amounted to 1.06 million euros, a value that compares with a positive result of 49 thousand euros the previous year.

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