Current Report No.: 25/2019

Cancellation of the Annual Shareholders’ Meeting of CIECH S.A.

Current Report No.: 25/2019

Date of preparation:

Abbreviated name of the Issuer: CIECH S.A.

Legal basis: Art. 56 (1)(2) of the Act on public offering – current and periodic information

Subject: Cancellation of the Annual Shareholders’ Meeting of CIECH S.A.

Contents of the Report:

With reference to the current report No. 20/2019 dated 31 May 2019, the Management Board of CIECH S.A. (the „Company” or the „Issuer”) hereby informs that today it has adopted a resolution on cancellation of the Annual Shareholders’ Meeting of the Issuer scheduled for 28 June 2019, at 11:00 a.m. (the “Meeting”).

Cancellation of the Meeting is caused by the necessity to introduce corrections to the consolidated financial statements of CIECH Group for the year 2018 (the “Statements”). The envisaged correction shall consist in accommodating in the Statements of the provision for income tax with interest and the write-off for deferred tax asset. The Issuer informed about the provision and the write-off for asset being created in the current report No. 24/2019 dated 27 June 2019.

The Management Board further informs that based on its own analysis of the time necessary to prepare corrected Statements and following consultation with the auditor it assesses that announcing a brake in the Meeting might not be a sufficient solution. In particular, the duration of the brake (a maximum of 30 days) might not be sufficient for the shareholders to get acquainted with the content of the corrected Statements in due advance of the Meeting being resumed.

At the same time the Management Board of the Issuer shall use all its efforts for the preparations of the corrected Statement to be completed as soon as possible and shall convene a shareholders’ meeting forthwith after their complete.

Legal basis: § 19 (1)(1) of the Regulation of the Minister of Finance of 29 March 2018 regarding current and periodic information delivered by issuers of securities and on conditions of recognition of information required under non-member state law regulations as equivalent.

Signatures of the persons representing the Company: 

Dawid Jakubowicz – President of the Management Board

Artur Osuchowski – Member of the Management Board

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