Interxion Files 2017 Annual Report
April 30 2018 - 5:00PM
Business Wire
Interxion Holding N.V. (NYSE:INXN), a leading European provider
of carrier and cloud-neutral colocation data centre services, today
announced that is has filed with the U.S. Securities and Exchange
Commission its Annual Report on Form 20-F.
The 20-F, including the consolidated financial statements and
the footnotes thereto, discloses (i) revisions for immaterial
errors in prior periods resulting from share-based payment expenses
not being properly recognized and (ii) the identification of a
material weakness in internal control over financial reporting as
of December 31, 2017 and, accordingly, ineffective disclosure
controls and procedures as of December 31, 2017.
During the preparation of the 2017 consolidated financial
statements, the Company became aware that share-based payment
expenses were improperly recognized in accordance with IFRS 2,
resulting in an understatement of such expenses in its consolidated
financial statements. The errors have been corrected by restating
each of the affected financial statement line items for prior
periods in the consolidated financial statements, which corrections
have been assessed to be immaterial to each of those prior
periods.
The material weakness identified pertains to a deficiency in the
design of internal controls relating to technical accounting of
share-based payments. The design of the review controls relating to
the complex process of applying IFRS 2 (Share-based Payments) to
the Company’s incentive plan award schemes were not sufficiently
precise to detect an error in the application of IFRS 2 with
respect to the valuation of incentive plan awards. Management has
been actively engaged in the development and implementation of a
remediation plan to address the foregoing material weakness in
internal control over financial reporting.
About Interxion
Interxion (NYSE: INXN) is a leading provider of carrier and
cloud-neutral colocation data centre services in Europe, serving a
wide range of customers through 49 data centres in 11 European
countries. Interxion’s uniformly designed, energy efficient data
centres offer customers extensive security and uptime for their
mission-critical applications.
With over 700 connectivity providers, 21 European Internet
exchanges, and most leading cloud and digital media platforms
across its footprint, Interxion has created connectivity, cloud,
content and finance hubs that foster growing customer communities
of interest. For more information, please visit
www.interxion.com.
Forward-looking Statements
This communication contains forward-looking statements that
involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such forward-looking statements. Factors that could cause actual
results and future events to differ materially from Interxion’s
expectations include, but are not limited to, the difficulty of
reducing operating expenses in the short term, the inability to
utilise the capacity of newly planned data centres and data centre
expansions, delays in connection with the development of new data
centres or data centre expansions, significant competition, the
cost and supply of electrical power, data centre industry
over-capacity, performance under service level agreements, delays
in remediating the material weakness in internal control over
financial reporting and/or making disclosure controls and
procedures effective, certain other risks detailed herein and other
risks described from time to time in Interxion’s filings with the
United States Securities and Exchange Commission.
Interxion does not assume any obligation to update the
forward-looking information contained in this report.
This announcement and the Annual Report on Form 20-F contain
“inside information” under Regulation (EU) 596/2014 (16 April
2014).
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version on businesswire.com: https://www.businesswire.com/news/home/20180430006555/en/
InterxionJim Huseby, Tel: +1-813-644-9399Investor
RelationsIR@interxion.com
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