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Solutions 30 says it has given EY all requested information

By Reuters

By Benoit Van Overstraeten and Sudip Kar-Gupta

PARIS (Reuters) – Luxembourg-based Solutions 30 said it had provided all the information at the technology group’s disposal in response to requests from its auditor EY, which were mentioned in its financial report on Sunday.

Solutions 30 had been under pressure from France’s AMF market regulator to release its annual financial report and an auditor’s signed-off report.

The company published its 2020 financial report on Sunday, which included a disclaimer from EY.

“We have not received from those in charge of the Group all the representations requested. These matters led us to conclude that the possible effects on the consolidated financial statements of undetected misstatements may be both material and pervasive,” the EY disclaimer in the report read.

Solutions 30, whose shares are due to resume trading on Monday after a two-week suspension, said in a statement its teams had responded to requests for the information from EY.

“Its teams responded diligently to the auditor’s requests for documents and information and have provided all the information that the group has at its disposal,” it said.

EY Luxembourg has said it could not comment, due to client confidentiality.

Solutions 30 said on Friday that it could de-list from the stock market and appoint new auditors, amid an on-going dispute with EY.

Chief executive Gianbeppi Fortis told reporters on Friday that Solutions 30, which had a market capitalisation of 1.1 billion euros ($1.3 billion) when trading in its shares was suspended, could also consider a sale or merger.

($1 = 0.8211 euros)

(Reporting by Sudip Kar-Gupta and Benoit Van Overstraeten; Editing by Emelia Sithole-Matarise and Alexander Smith)