IMCOMPANY (IMC): Acknowledgement of an error in the accounting treatment of long-term obligations associated with the IFC loan - raport 7
UNI - EN REPORT No7/2017
The Board of Directors of Industrial Milk Company S.A. (hereinafter the Company) informs that the Company has acknowledged an error in the accounting treatment of its long-term obligations associated with the IFC loan, in particular with the Warrant Agreement (the Share purchase warrant) and the Additional return included in the Loan Agreement.
Taking into account the above mentioned acknowledged error, when preparing the Consolidated Financial Statements for the year ended 31 December 2016, the Company will restate lines reflecting the effect of the Share purchase warrant and the effect of the Additional return in the Consolidated statement of financial position and in the Consolidated statement of comprehensive income for the year ended 31 December 2014 and for the year ended 31 December 2015.