Tallinn, 2023-03-17 08:30 CET --
On March 10, 2023 J.Molner AS ('Company') published its annual interim
unaudited reports for 12 months of financial year 2022 for the Company and its
operating subsidiary, The J. Molner Company OÜ, on an unconsolidated basis as
guided by NASDAQ Tallinn, the Exchange rules, and the prior practice of market
participants. The Company provided the two unconsolidated accounts together
with the guidance to review them together.
Investors are requested to review the accounts together to inform themselves on
the financial situation of the Company group as a whole as of December 31,
2022.
On March 10, 2023 an observation status was applied to J.Molner AS shares by
the decision of Nasdaq Tallinn management board based on clause 3.5.4.8. of
chapter Supervision of the rules and regulations on the grounds that the net
assets of The J. Molner Company OÜ do not comply with the requirement of the
Commercial Code.
The Company notes that as of December 31, 2022, the parent company, J. Molner
AS had a positive equity position of EUR 2,155,060 and the subsidiary, The J.
Molner Company OÜ had a negative equity position of EUR 195,351. On a proforma
basis, the Company group as a whole had a positive consolidated equity position
in compliance with the rules of the Exchange. The Company will provide a fully
consolidated statement of accounts, as per market practice, with its first half
year financials for 2023 later this year.
The Company has not changed its prognosis for 2023 as provided in its Company
Description document of October 12, 2022. A more detailed account of financial
year 2022 will be provided at its Annual Meeting of Shareholders to be
announced for April, 2023.
For additional information please contact:
Jason Grenfell-Gardner
J.Molner AS
Management Board member
+372 536 00 346
jason@jmolner.com© 2023 GlobeNewswire
