Current report no: 9/2022
Management Board of Boryszew S.A. (Issuer, Company) advises that in the course of drafting separate financial statement for 2021, on 4 April 2022 it decided to recognise a write-off of financial assets in form of held bonds and receivables on loans granted to subsidiaries Boryszew Automotive Plastics Sp. z o.o. and Boryszew Tensho Poland Sp. z o.o. in the amount of PLN 270.2 million. The above event is of an accounting nature and recognition of the write-off will not affect Company’s liquidity. The value of the write-off will be charged to the separate financial results presented in the Issuer’s 2021 financial statements. Due to the intragroup nature of the aforementioned loans, the aforementioned write-off will have no impact on the consolidated results for 2021.
Recognition of the above mentioned write-off is a consequence of the current assessment of the possibility of payment of liabilities of companies in Boryszew Automotive Plastics Group, in particular those under bankruptcy process about which the Company advised in the current report no 39/2021 of 13 October 2021.
The Management Board of the Company also explains that on the day of the preparation of the this current report the annual financial statements of Boryszew Capital Group for 2021 are being audited by the auditor.
Legal attitude: Article 17 section 1 MAR – Confidential information.
Signatures:
Wojciech Kowalczyk – 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.