Hybrid Software Group PLC amends financial reporting calendar
Cambridge (UK), 29 March 2022: Hybrid Software Group PLC (Euronext: HYSG) (the “Company”) announces that the publication of its annual report will be delayed and the financial reporting calendar has been amended.
As a result of Brexit, the Company’s auditors are not recognised under Belgium law as a third-country auditor and the laws of Belgium have not been passed to change that circumstance. The Company’s contingency plan for this scenario is to have a dual audit opinion that satisfies both the UK company law requirements and the Belgian market regulator’s requirements. This will also enable the Company to complete the Prospectus in relation to the 2021 acquisition of HYBRID Software Group S.à r.l..
The dual audit opinion involves two auditors, one from the UK and one from Belgium and a significant increase in the work required. A period of contingency was factored into the audit plan, but, combined with the increased first-year audit work for the acquisitions made during 2021, additional time is required to complete the work.
Subsequently, the publication of the annual report will be delayed and will be published on or before Friday 22 April 2022.
Quarter 1 trading update
The trading update for the 3 months ending 31 March 2022 will now be published before market opening on Tuesday 3 May 2022.
Annual General Meeting
The Company intends to publish a much more detailed annual report to explain the breadth of the business, including recent acquisitions. To allow all shareholders to properly read the annual report and cast their proxy votes, the Company’s annual general meeting has been postponed until Tuesday 10 May 2022. The meeting’s timing, venue, and final agenda will be provided in accordance with applicable legal and regulatory provisions.
About Hybrid Software Group
Through its operating subsidiaries, Hybrid Software Group PLC (Euronext: HYSG) is a leading developer of enterprise software for industrial print manufacturing. Customers include press manufacturers such as HP, Canon, Durst, Roland, Hymmen, and hundreds of packaging printers, trade shops, and converters worldwide.
Hybrid Software Group PLC is headquartered in Cambridge UK. Its subsidiary companies are colour technology experts ColorLogic, printing software developers Global Graphics Software, enterprise software developer HYBRID Software, 3D design and modelling software developers iC3D, the industrial printhead driver solutions specialists, Meteor Inkjet and pre-press workflow developer Xitron.
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