Here’s the statement from Rödl & Partner Turkey regarding the unauthorized publication and release of the “Valuation of Miracle” report:
- The client, one of the affiliated companies of a Nasdaq-listed corporation, engaged Rödl & Partner Turkey to prepare a valuation report for internal purposes. Thus, an enterprise value of “Miracle Cash&More” was calculated using solely information and data received from and provided by the client’s external consultant.
- Rödl & Partner Turkey carried out the valuation of “Miracle Cash&More” business entities in England, Italy, Spain, Benelux and Germany as of 31. December 2023. Rödl & Partner Turkey points out that the engagement was not an audit or review and that no official audit opinion was given.
- Rödl & Partner Turkey’s valuation was exclusively based on the information and data received from and provided by an external consultant of the client. Rödl & Partner Turkey did not have direct access to the client itself, its customers, suppliers or any other counterparts of the analyzed business entities. During its engagement, Rödl & Partner Turkey assumed that any documents made available were comprehensive and accurate and that presented copies were true and comply fully with the original documents. Rödl & Partner Turkey did not verify the completeness and authenticity of the documents or the authority of the signatories. Rödl & Partner Turkey was not engaged by the client to conduct any audit on or review the data received by the external consultant of the client. Rödl & Partner Turkey does not accept any liability, as stated in the internal valuation report, for the accuracy of information and data used to prepare said report.
- Rödl & Partner Turkey used projections and forecasts provided by the external consultant of the client as a basis for the valuation. Rödl & Partner Turkey does not assume any liability for the accuracy and completeness of projections and underlying assumptions. Rödl & Partner Turkey points out that projections and forecasts are generally prospective in nature, which may therefore lead to variances between actual and projected results.
- The valuation report was released to the public without the approval of Rödl & Partner Turkey. It was intended solely for internal purposes of “Miracle Cash&More” and, as noted in the report itself as well as the signed Service Agreement between Rödl & Partner Turkey and the client, may not be used for any other purpose. The report or any part thereof may not be copied and/or used for advertising, public relations, publicity, or other purposes, may not be distributed through news, sales or any other public (or private) media without Rödl & Partner Turkey’s written consent.