UMT United Mobility Technology AG (German Securities ID: 528610, ISIN: DE0005286108) will prepare and publish voluntary consolidated financial statements in accordance with the rules of the German Commercial Code for the first time in Financial Year 2016. In this way, UMT United Mobility Technology AG, which is listed in the Entry Standard segment of the Frankfurt Stock Exchange, is laying the groundwork for compliance with the strict transparency guidelines for the regulated market.
"Given our company's steady growth and the comprehensive transparency requirements in the regulated market, we want to convey an even better impression of UMT Group's financial position to our shareholders in particular, and to the capital market," explained Dr. Albert Wahl, CEO of UMT United Mobility Technology AG, and he continued as follows: "With this move, we are anticipating the needs of capital market participants in the regulated market while at the same time adhering to our policy of sustained growth." UMT United Mobility Technology AG will publish a comprehensive outlook including major key figures at group level as part of its annual letter to shareholders in November 2016.
In view of the voluntary preparation and publication of consolidated financial statements in accordance with the German Commercial Code and the fact that the company already meets the transparency guidelines for the regulated market, the Management Board and Supervisory Board of UMT United Mobility Technology AG view the Entry Standard segment of the Frankfurt Stock Exchange as the appropriate market segment for the company's present size. In view of the company's continuing growth, however, UMT Group routinely examines the option of a mid-term switch to the regulated market, which would involve the preparation of consolidated financial statements in accordance with the International Financial Reporting Standards (IFRS).