By: Mark Fitzgerald
Hollinger International said it missed the March 15 filing deadline for its 2003 annual report to the U.S. Securities and Exchange Commission because of its continuing internal investigation into alleged wrongful payments to Conrad Black and other former executives, and because of its dispute with Black’s holding company, Ravelston Corp. Ltd.
In a statement released before the 5:30 p.m. EST deadline to file the 10-K report for 2003, Hollinger said “disruption of management services” previously provided by Ravelston meant the company “is not able to complete its financial reporting process and its audited financial statements” for the statement.
“The company intends to complete its financial reporting process as soon as practicable after the completion of the investigation by the Special Committee, and then promptly file the 10-K,” it said.
Because of the delayed 10-K filing, Hollinger International also said there would be a “corresponding delay” in holding its annual shareholder’s meeting. The company did not specify a new date for the meeting, saying only that it would be held “as soon as practicable” after the filing.
Hollinger International said its board of directors would meet sometime in April to consider its dividend policy. Because of the delayed annual report, normal record and payable dates for the second-quarter dividend will not apply, it said.