TTL Beteiligungs- und Grundbesitz-AG has scheduled an extraordinary Annual General Meeting for December 9, 2025, following the publication of its invitation in the Federal Gazette on October 31, 2025. This meeting will serve as a replacement for the company's regular 2025 Annual General Meeting, marking an unusual departure from standard corporate governance procedures. The primary agenda item involves presenting the company's 2024 annual financial statements and the TTL Group's 2024 consolidated financial statements to shareholders in unaudited form.
This unconventional approach stems from ongoing disagreements between the company's executive bodies and the auditor appointed by the Annual General Meeting. The auditor has been unable to complete the audit of the 2024 financial statements due to persistent differences in assessing various accounting and reporting matters. Management and supervisory boards have proceeded with publishing the unaudited financial statements despite the incomplete audit process. The decision reflects concerns about meeting capital market obligations and avoiding potential regulatory sanctions.
Both boards reviewed the financial documents, including the combined management report and the Executive Board's profit appropriation proposal, based on the currently unaudited versions prepared by management. The company has made all legally required meeting documents available through its official website in the Investor Relations section. This move ensures shareholders can access necessary information ahead of the December meeting while the company navigates the unresolved audit issues that have complicated its standard financial reporting timeline. The situation represents a significant deviation from normal corporate governance practices and raises questions about the company's financial reporting processes and internal controls.
