Boryszew S.A. (“Issuer”) announces hereby, following the current report No. 5/2021 of 16 February 2021 on the beginning of assessments on valuation of selected assets of Boryszew Group that on 29 April 2021 an assessment was received by a third party adviser on the impact on valuation of selected asset items of transactions in the transfer to the Issuer of the ownership rights to shares of capital companies owned by Impexmetal S.A. from the perspective of the impact of settlement of this transaction on different components of consolidated financial statement of Boryszew Capital Group.
The tests resulted in write-offs recognised in the Issuer’s consolidated financial statements, adjusting the value of the assets being used of PLN 50 million in total.
The above amounts will decrease the net result in the consolidated financial statements by the amount of the recognised revaluation write-offs less a deferred tax asset. The above operations are of a non-cash nature and have no impact on Issuer’s liquidity.
The value of recognised write-offs will be included in the consolidated statement of Boryszew Capital Group for 2020, due to publication on 30 April 2021.
Legal attitude: Article 17 section 1 MAR – Confidential information.
Andrzej Juszczynski – Vice President of the Management Board
Paweł Tokłowicz – Proxy
Translation from the original Polish version.
In the event of differences resulting from the translation, reference should be made to the official Polish version.