TTL Beteiligungs- und Grundbesitz-AG has called an extraordinary Annual General Meeting for December 9, 2025, where shareholders will receive unaudited versions of the company's 2024 financial statements. The meeting replaces the regular 2025 Annual General Meeting, with the official invitation published in the Federal Gazette on October 31, 2025, following statutory requirements. This development is significant because it represents a departure from standard corporate governance practices where audited financial statements are typically presented to shareholders.
The company's decision to proceed with unaudited financial statements stems from ongoing disagreements between the appointed auditor and the company's executive bodies regarding the assessment of various financial matters. These differences have prevented the completion of the audit for the 2024 financial year, creating an unusual situation for a publicly traded company. The Management Board and Supervisory Board determined that publishing the unaudited statements was necessary to fulfill capital market obligations and avoid potential regulatory actions that could arise from delayed financial reporting.
Shareholders will review the 2024 annual financial statements, the TTL Group's consolidated financial statements, the combined management report, and the Executive Board's proposal for profit appropriation—all in unaudited form. These documents underwent review by the Supervisory Board based on the unaudited versions prepared by the Executive Board. The company has made all legally required meeting documents available through its website in the Investor Relations section, providing shareholders with access to the materials needed for informed participation in the upcoming meeting.
This situation carries important implications for investor confidence and corporate transparency standards. The inability to reach consensus with auditors raises questions about financial reporting practices and internal controls within the organization. For shareholders, the presentation of unaudited financial statements creates uncertainty about the accuracy and completeness of the financial information being presented for approval. The company's decision to proceed despite the audit issues suggests regulatory pressures may be influencing the timing of financial disclosures, potentially indicating broader challenges in the company's financial governance structure.
