Lund, June 18, 2017 - During the audit of the 2016 annual report, the auditors of Anoto Group have asked the company to make a change in the accounting treatment of negative minority shareholders' interest.
Making such a change will create a deviation in the annual report for 2016 from the Q4 Report: this change relates to the decision not to complete the acquisition of a subsidiary (Destiny Wireless) during Q4 2016 and therefore resulted in Anoto's share reducing to 49% and the subsidiary's deconsolidation from Anoto Group.
In the Q4 Report an amount of -21 MSEK, which was the minority shareholders' interest in Destiny, was deducted directly from Anoto shareholders' equity. However, Anoto has been advised by the auditors that the -21 MSEK should in fact be included in the P&L for the period 1 January 2016 - 31 December 2016.
The previous accounting treatment was discussed with the auditors in Q4 2016 prior to publication of the Q4 Report, but during the process of finalizing the 2016 Annual Report they have now advised that, despite this being a cash-neutral technical change, this should instead be included in P&L for the period.
For further information, please contact:
Joonhee Won, CEO
For more information about Anoto, please visit www.anoto.com or email ir@anoto.com
Anoto Group AB (publ)Reg.No. 556532-3929,
Mobilvägen 10, SE- 223 62 Lund
Tel. +46 46 540 12 00
About Anoto
Anoto is a publicly held Swedish technology company known globally for innovation in the area of information-rich patterns and the optical recognition of those patterns. It is a leader in digital writing and drawing solutions, having historically used its proprietary technology to develop smartpens and the related software. These smartpens enrich the daily lives of millions of people around the world. Now Anoto is also using its pattern, optics, and image-processing expertise to bridge between the analogue and digital domains through an initiative known as Anoto DNA (ADNA). ADNA makes it possible to uniquely and imperceptibly mark physical objects and then easily identify those individual objects using ubiquitous mobile devices such as phones and tablets. ADNA is enabling exciting possibilities for product innovation, marketing insights, and supply-chain control. Anoto is traded on the Small Cap list of Nasdaq Stockholm under ANOT.
