The market watchdog in Greece, the Hellenic Capital Market Commission, on Friday continued its stepped up pressure on the FF Group, requesting an urgent audit of the company’s financial and non-financial results by relevant judicial officials in Athens.
The cap market commission reiterated that the Greece-based jewelry/accessory manufacturer and retailer has failed to provide the information requested previously, whereas an internal audit based on international accounting standards has never commenced.
In an announcement by the commission, it highlights, among others, that FF Group has failed to reveal the level of cash reserves it holds in the Asia-Oceania region.
The Athens Stock Exchange (ASE) last month suspended trading of Folli Follie shares, following a relevant request by the Capital Markets Commission, and earlier, by the company itself in order to prevent a collapse of its share price.
