Current Report No.: 3/2020
Legal basis: Article 17 section 1 MAR – Confidential information.
Contents of the report:
The Management Board of Boryszew S.A. (“Company”) informs that on March 9, 2020 it received from the subsidiary Impexmetal S.A. information on the creation in the company’s financial statements of a write-down on the value of shares of the subsidiary Alchemia S.A. in the amount of PLN 158 million, reducing the value of these shares.
The write-down will be recognized in the consolidated report of the Boryszew Capital Group for 2019 as an impairment of goodwill arising on the settlement of the purchase of shares of Alchemia S.A.
The write-down is of an accounting character and will not affect the financial liquidity and current operating activities of the Company and the Boryszew Capital Group.
The Management Board of the Company also explains that as at the date of this current report, the annual financial statements of the Boryszew Capital Group remain in the course of auditing, and thus the possibility of changes in the amount of the write-down cannot be excluded. The final amount of the write-down together with the financial results of the Company and its Capital Group for 2019 will be provided as part of annual reports, the publication of which is scheduled for April 8, 2020.
Signatures:
Piotr Lisiecki – President of the Management Board
Translation from the original Polish version.
In the event of differences resulting from the translation, reference should be made to the official Polish version.