ACCOUNTING INVESTIGATION CONFIRMS PRELIMINARY FINDINGS REGARDING REIMBURSEMENTS TO FORMER CEO

2018-10-17

The preliminary findings of an independent investigation into expenses reimbursed to co-founder and former CEO Henrik Ljungcrantz were disclosed via press release on July 24, 2018. The final report from PwC has now confirmed these preliminary findings.

The board of directors, in line with what was stated in the July 24 press release, has submitted the investigation report to the Swedish Economic Crime Authority for further processing, and will seek to recover the reimbursed expenses identified by the investigation as incorrectly paid out plus costs for the investigation itself.

For more information contact:

Mark H. Shay, CFA
Chairman of the Board
Tel: +46 765 96 62 38 or e-mail: mark@accendofund.com

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