Ossia International alters financial year end
Its current financial year will cover a 15-month period.
The Board of Directors of Ossia International Limited announced the change of the company’s financial year end from 31 December to 31 March of each year. The current financial year of the company will therefore cover a 15-month period from 1 January 2012 to 31 March 2013.
Thereafter, the company’s financial year will be a 12-month period ending on 31 March of each year.
According to the announcement, the reason for the change of the company’s financial year is to enable better management of internal processes and smoother flow of its operations which will result in better administrative and operational efficiencies.