AS “mogo” announces that the audited annual report for 2018 will be published by May 31, 2019 instead of April 30, 2019, as initially planned. The delay is due to the additional technical and organizational efforts mainly related to the audit process of the annual report which result from the first-time application of IFRS 9 ("Financial Instruments") and IFRS 16 ("Leases").

In particular we would like to emphasize that AS “mogo” voluntarily adopted IFRS 16 before its mandatory application for business years starting 2019 in order to provide sound and transparent financial information.

About AS “mogo”

AS “mogo” offers classical finance lease and lends against vehicles already owned by clients (a type of service known as leaseback), which is available by filling out an application on the company website, mobile website, over the phone, enquiring with one of more than 270 affiliated car dealerships, or at one of its client service centers in major cities throughout Latvia. Company has more than 10 thousand active customers. Mogo group companies operate successfully not only in Latvia, but also in Estonia, Lithuania, Georgia, Poland, Romania, Bulgaria, Moldova, Albania, Belarus, Armenia, Ukraine, Kazakhstan, Uzbekistan and Macedonia with more plans to expand business in other countries. Read more: www.mogofinance.com

Dārta Keršule
Regional CFO
Phone: +371 66900904
Email: darta.kersule@mogofinance.com