The Board is also aware of additional speculation from third parties relating to Telit's financial condition, trading performance and business relationships and has considered that speculation in detail. The Board confirms that there is no substance to the speculative and accusatory articles that have been published and that it stands behind the Group's audited accounts to 31 December 2016 and the most recently published interim statement. Specifically the Board is satisfied with the status of its distributors which contributed approximately 24% of Group revenues in the year ended 31 December 2016 with the ten largest accounting for approximately 61% of the total distributor turnover.
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