CEVA Holdings LLC – Quarter One 2017 Interim Financial Statements
11
Notes to the U audited Co de sed Co solidated I te i Fi a cial State e ts
1. General Information
CEVA Holdi gs LLC the Co pa
a d its su sidia ies olle ti el , the G oup o CEVA design, implement and operate complete end- to-end Freight Management and Contract Logistics solutions for multinational and small and medium sized companies on a local, regional
and global level. CEVA Holdings LLC was incorporated on 28 March 2013 in the Republic of the Marshall Islands. The address of its registered office is co The
Trust Company of the Marshall Islands, Inc., Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, MH96960, Marshall Islands. CEVA Holdings LLC is the immediate parent of CEVA Group Plc, a company incorporated on 9 August 2006 in England and Wales as a UK
pu li o pa ith li ited lia ilit . Pu sua t to the LLC Ag ee e t, Apollo Glo al Ma age e t LLC Apollo a d its affiliates hold a majority of the voting power of the Company and have the right to elect a majority of the respective boards of the Company and CEVA Group
Plc.
Ce tai ajo o po ate a tio s the Co pa s Boa d e ui e app o al of a ajo it of the Ma age s ot desig ated Apollo. These unaudited condensed consolidated interim financial statements were approved and authorized for issue by the Board of Managers on
3 May 2017.
2. Basis of Preparation
The unaudited condensed consolidated interim financial information for the three months ended 31 March 2017 has been prepared on a goi g o e asis a d i a o da e ith IA“ , I te i fi a ial epo ti g . The u audited o de sed o solidated i te im financial
information should be read in conjunction with the annual financial statements of CEVA Holdings LLC for the year ended 31 December 2016, which have been prepared in accordance with International Financial Reporting Standards IFRS as adopted by the European Union and in
accordance with IFRIC interpretations. As from 2016, the Company policy for the
p ese tatio of sha e ased o pe satio “BC osts i the i o e state e t has changed; this is related to the issuance of shares and grant of equity awards to certain members of management under the Companys 2013 Long-
Term Incentive Plan. These costs are now presented in a similar manner to specific items – they are separated out in the income statement
as spe ifi ite s a d “BC . These a e o -cash expenses and Management believes that this presentational accounting policy change will help investors to better understand the underlying performance of the company. There was no impact on reported results for the three
months ended 31 March 2016 as a result of this change.
3. Accounting Policies
