Current Report No.: 15/2019

Date of preparation: 13.05.2019

Abbreviated name of the Issuer: CIECH S.A.

Legal basis: Article 56 section 1 point 2 of the Act on Public Offering – current and periodic information

Subject: Correction of the Annual Report of CIECH S.A. for 2018 and the Consolidated Annual  Report of the CIECH Group for 2018

Text of the Report:

The Management Board of CIECH S.A. with its registered office in Warsaw (the "Company" or "Issuer") herewith provides information on the correction of the Annual Report of CIECH S.A. for 2018 and the Consolidated Annual Report of the CIECH Group for 2018. 

The Annual Report of CIECH S.A. for 2018 and the Consolidated Annual Report of the CIECH Group for 2018 have been revised and changed as follows:

1. supplementary information:

• assessment of the Supervisory Board of CIECH S.A. of the Report of the Management Board on the Activities of the CIECH Group and CIECH S.A. for 2018, separate financial statements of CIECH S.A. and the consolidated financial statements of the CIECH Group for 2018,
• statement of the Supervisory Board of CIECH S.A. on the activities of the Audit Committee and a statement with regard to the policy of selecting an audit firm,
• information of the Management Board of CIECH S.A., prepared on the basis of the statement of the Supervisory Board on the entity authorised to audit the financial statements,

2. supplementary information to  the Report of the Management Board on the Activities of the CIECH Group and CIECH S.A. for 2018, in the section regarding the corporate governance statement in relation to the operation of the Audit Committee, i.e. information:

• on individuals who meet the statutory independence criteria,
• on individuals who have knowledge and skills in accounting or auditing of financial statements, including the manner of acquiring the same,
• on individuals who have knowledge and skills in the industry in which the Issuer operates, including the manner of acquiring the same,
• whether the Issuer has been provided with any permitted non-audit services by the auditing firm examining its financial statements, and whether the independence of this auditing firm has been assessed and the consent for the provision of such services has been given,
• main assumptions of the policy developed for the selection of an audit firm to carry out the audit and the policy of providing any permitted non-audit services by the audit firm, any entities related thereto and by the member of the auditing firm's chain,
• whether the recommendation regarding the selection of an audit firm to carry out the audit met the applicable conditions, and where the selection of the audit firm was not related to the extension of the agreement for the auditing of financial statements – whether such recommendation was prepared following the selection procedure organised by the Issuer and whether it complied with the applicable criteria,
• number of meetings of the Audit Committee held.

Accordingly, enclosed hereto, the Company provides the following:

• assessment of the Supervisory Board of CIECH S.A. of the Report of the Management Board on the Activities of the CIECH Group and CIECH S.A. for 2018, separate financial statements of CIECH S.A. and the consolidated financial statements of the CIECH Group for 2018,
• statement of the Supervisory Board of CIECH S.A. on the activities of the Audit Committee and a statement with regard to the policy of selecting an audit firm,
• information of the Management Board of CIECH S.A., prepared on the basis of the statement of the Supervisory Board on the entity authorised to audit the financial statements,
• Erratum the Management Board Report on activities of the CIECH Group and CIECH S.A. for 2018 - supplementary information in the section regarding the corporate governance statement in relation to the operation of the Audit Committee.

The Company will re-submit the corrected Annual Report of CIECH S.A. for 2018 and the Consolidated Annual Report of the CIECH Group for 2018, including any appendices thereto. 

Legal basis: § 15 section 4, in conjunction with §70 section 1 points 7-8, §71 section 1 points 7-8, §70 section 1 point 14, §71 section 1 point 12, §70 section 6 point 5 letter L, §71 section 5 of the Regulation of the Minister of Finance of 29 March 2018 on current and periodic information provided by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state (Journal of Laws of 2018, item 757) (the “Regulation”).

Signatures of the persons representing the Company:

Dawid Jakubowicz – President of the Management Board

Artur Osuchowski – Member of the Management Board