The general meeting of confectionery manufacturer Manner in Vienna scheduled for May 24 will not take place due to an investigation by the balance sheet examination agency. According to Manner, the discovery of the error by the Austrian Financial Reporting Enforcement Committee (OePR) specifically relates to the question of whether the consolidated financial statements for the fiscal year 2020 should be prepared due to a subsidiary in Azerbaijan, the company announced.
In order to become more independent from suppliers when it comes to supplying hazelnut raw materials, Manner has purchased planting areas in Azerbaijan in 2019. The first hazelnut harvest is expected in 2024.
According to the confectionery manufacturer, the company in question is not operational and therefore unrelated to the operational business of the Manner Group.
“A comprehensive and detailed analysis is currently being carried out with the support of external consultants. It cannot be excluded that the results of the analysis will also have an impact on subsequent periods,” Manner admitted in the press release. Therefore, the company’s board of directors felt compelled to cancel the upcoming annual general meeting. The date of the new general meeting to be set will be published accordingly.
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