Aix-en-Provence (France), May 3, 2018. Global EcoPower (Euronext Growth - FR0011289198 - ALGEP) specifies, following the publication of the press release relating to the 2017 annual results on April 16, 2018, that the statutory auditor's report on the consolidated accounts, relating to the fiscal year ended December 31, 2017, was issued on April 30, 2018, with a reservation.
The 2017 consolidated financial statements have been audited, with the issue of a reservation by the company's statutory auditors. This reservation follows their work on the accounting estimates which led them to identify a divergence of assessment relating to the intangible rights assigned to the Payra-sur-l'Hers project. The analysis of the statutory auditors leads them to consider that « the portion of the intangible rights assigned to the Payra-sur-l'Hers project, i.e. 3,830 thousand euros, should have been written off against the income recognized for these same rights. If the write-off of intangible rights that the auditors deemed necessary had been recorded, the fixed assets shown as assets in the consolidated balance sheet at December 31, 2017 would be 3,830 thousand euros less and the loss for the post-tax fiscal year would be increased by 3,601 thousand euros (i.e. a total net loss of
-4,856 thousand euros). »
The 2017 annual financial report, including the statutory auditors' report, has been available since April 30, 2018 on the Global Ecopower website (www.global-ecopower.com), FINANCE tab, "Annual reports" section.
Global EcoPower is an Aix-en-Provence based company and a “turnkey” constructor of power plants using renewable energies, wind and solar power.
GEP is listed on the Euronext Growth Market in Paris (ISIN code: FR0011289198 - mnemo: ALGEP).
GEP is eligible for PEA-PME.