PAXMAN amends acquisition value of Paxman Group Ltd and year-end figures
PAXMAN informs that the company has changed its accounting treatment regarding the acquisition of Paxman Group Limited.Updated accounting treatment of internal acquisition improves PAXMAN’s net profit by 1.1 MSEKIn 2017 PAXMAN AB (publ) acquired the entire issued share capital of Paxman Group Limited by means of a share for share exchange. This transaction was one between legal entities under common control and as such PAXMAN AB (publ) has now been advised by its auditor that it should have been accounted for as an internal group restructuring rather than as an acquisition. The results as