Berlin, Germany, Nov. 06, 2025 (GLOBE NEWSWIRE) — Varadia SE will once again submit a motion for a special audit pursuant to Section 142 (1) of the German Stock Corporation Act (AktG) at the upcoming Annual General Meeting of Advanced Blockchain AG (ABAG). A corresponding motion had already been filed at the Annual General Meeting on 20 October 2025, which was adjourned without any resolutions being passed.
In Varadia SE’s view, there remains a substantial need for clarification concerning the actions of the Management Board and the Supervisory Board of ABAG in the preparation, audit, and approval of the annual financial statements as of 31 December 2024. According to Varadia SE, certain circumstances raise reasonable suspicion that irregularities or violations of statutory provisions may have occurred in this context.
The company’s auditor issued only a qualified audit opinion on ABAG’s annual financial statements. No audit opinion was provided with respect to the balance sheet item “Receivables from affiliated companies,” amounting to approximately EUR 10 million, which is material to the company’s financial position.
The requested special audit aims to examine and clarify the circumstances surrounding the qualified audit opinion and the conduct of the Management Board and Supervisory Board in connection with the financial statements, thereby promoting transparency and strengthening shareholder confidence in the company’s proper and diligent corporate governance.
The special audit motion previously submitted, as well as Varadia SE’s counterproposals, are available in the Newsroom at http://www.varadia.de
Legal Disclaimer: This press release is for informational purposes only and does not constitute investment advice, an offer to sell, or a solicitation to buy any securities. The statements contained herein reflect the current views and assessments of Varadia SE based on publicly available information as of the date of publication. While Varadia SE is a shareholder of Advanced Blockchain AG, it does not represent or speak on behalf of the company. All information is provided without warranty for completeness or accuracy.
