With reference to the current report No. 17/2021 of 20 May 2021 on the decision to launch the review process of strategic options for selected groups of assets, the Management Board of Boryszew S.A. [Issuer] announces hereby that following the information in the report for the first half of 2021 on operations carried out in the first half of 2021 as well as the business environment for different businesses of Boryszew Capital Group and considering earlier evaluation of the development factors for different groups of assets, on 30 September 2021 the decision was made to extend the review of strategic options and associated evaluation also to include assets of the key business segments, namely Metals, Chemicals and Automotive. The above decision does not complete the review of options for the so-called non-strategic assets.
Given the above, in the review of options and in determining a new strategy of operation and development of Boryszew Capital Group any possible scenarios are considered for selected assets of different business lines of Metals, Chemicals and Automotive segment as well as for assets identified as non-strategic, including scenarios such as releasing such assets for sale, disposal of assets or organised parts of these business lines, conclusion of strategic partnership or establishing a joint-venture.
Furthermore, given the dynamically changing environment in the automotive industry, uncertainty associated with the lack of stability of the level of expected orders resulting from factors such as limitations in availability of semiconductors and, consequently, problems with obtaining expected financial flows and unsatisfactory results, which in turn result in limitations in self-financing possibilities of Boryszew Automotive Plastics Group [BAP Group], the scenario of at least restrictive optimisation may be considered with regard to BAP Group assets. It is also possible that if optimisation measures cannot be implemented or their effects are not satisfactory, alternative measures, not as yet decided upon, may be implemented at a later stage.
Subject to the information in current reports 20/2021, 23/2021, 24/2021, 27/2021 and 29/2021, no decisions have yet been made on the selection of a specific option or scenario for different assets, including in particular decisions on assets of the main business segments. The Issuer will announce any further significant decisions regarding the above process in the form of relevant reports.
Legal attitude: Article 17 section 1 MAR – Confidential information.
Wojciech Kowalczyk – Acting 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.