OPTION PUBLISHES ANNUAL REPORT 2015
REGULATED INFORMATION
Leuven, Belgium – April 29, 2016 – Option N.V. (EURONEXT Brussels: OPTI; OTC: OPNVY), a global leader in smart wireless M2M Solutions, today published on its website its annual report for the full fiscal year 2015 ended December 31, 2015.
The statutory Auditor has finished his review and gives a disclaimer of opinion, similar to last year’s opinion. The disclaimer of opinion results from the fact that the Auditor has raised questions about the reporting under going concern which the Board has explained in its annual report as follows:
“Given the continued cash drain in 2015 and 2016, the Board is looking for further cost alignment, development project- and financial funding.
On the day of the publication of the report, the Company has limited financial means. The Board has however secured new financial commitments which together with the latest sales outlook should allow the company to fund the next 6 months and secure the short term going concern.
The latest sales outlook incorporates a growth compared to actual sales realized in the first months; the company is confident it will be able to realize the outlook as it was based on concrete discussions with customers.
After this period of six months, new financing will be required. The Board has already started first actions in this respect to strengthen the group’s financial position by means of capital increase or partnering on group or subsidiary level.
Therefore the Board has decided to prepare the annual accounts under the going concern principle.”
The Ordinary Meeting of Shareholders will take place on May 31, 2016 at the Company’s registered office at 10:00 hour (CET). The convocation including the Agenda and the convocation formalities have been published on the Company’s website, www.option.com.
ABOUT OPTION
Option connects Things to the Cloud. With 30 years of experience and many industry’s firsts in the wireless industry, the Company is ideally positioned to bring the most efficient, reliable and secure wireless solutions to business markets (B2B) and industrial markets (M2M). The Company partners with system integrators, value added resellers, application platform providers, value add distributors and network operators to bring tailor made solutions to end-customers. Option is headquartered in Belgium and maintains offices in Europe, the US, Greater China and Australia. More information: www.option.com
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