TMG published its provisional annual figures on 8 March. Recent events concerning the group, as reported in our press releases and the stakeholders’ letter of 15 March that have been published on our website, created the exceptional situation that publication of the full, audited financial statements and annual report had to be postponed. We have worked hard to prepare the final documents for publication as quickly as possible and, following a careful process, we have finalised the annual report; the figures have not changed compared with the first publication on 8 March.
After TMG had received a bid from Mediahuis and VP Exploitatie for the acquisition of all issued and outstanding TMG depositary receipts and shares, TMG, Mediahuis and VP Exploitatie reached a conditional agreement on that bid on 5 March 2017.
The Supervisory Board resolved to suspend both members of the Executive Board with immediate effect on 5 March 2017. In accordance with TMG’s articles of association, the Supervisory Board is temporarily performing the executive functions. Although they were both in office until the end of the 2016 financial year, in view of their suspension, the members of the Executive Board have not signed the financial statements.
On behalf of the Supervisory Board, which is temporarily charged with managing TMG, I am pleased to present TMG’s annual report for 2016, including the audited and approved financial statements.
Interim Chairman of the Supervisory Board and interim Chairman of the acting Executive Board
This release is a translation of the original text in Dutch. In the event of a discrepancy between the two versions, the Dutch version prevails.