CZERWONA TOREBKA SA (19/2018) Information on the creation of a write-down

The board of the company "Czerwona Torebka" S.A. with its registered office in Poznań (the "Company") hereby informs that in the course of work on the annual consolidated financial statements for 2017, the Company decided today to create a revaluation write-down in the amount of PLN 232,661 thousand. PLN. The write-off refers to the remaining amount due from the payment of the sale price for shares of Małpka SA, about which the Company informed in current report No. 16/2015 of 9 May 2015 and No. 16/2015 / k from 12 May 2015. < / br> In the balance sheet assets, the Company has investment certificates Sowiniec FIZ. The assets of Sowiniec FIZ include the subject amount due to the sale of shares in Małpka S.A. in 2015. This undertaking, under the relevant agreement with the buyer of the shares of Małpka S.A., was taken over by the third party in exchange for a share in the sale price of shares of the company Małpka S.A., which the buyer will obtain from the prospective buyer of the shares of Małpka S.A. On the basis of information obtained from the current debtor of the Sowiniec FIZ fund referred to in the previous sentence, and its own assessment of the financial situation of Małpka SA, in relation to which by the decision of 31 January 2018 issued by the District Court for the city of st. Warsaw, 10th Commercial Department for Bankruptcy and Restructuring (file: X GRp 2/18), the accelerated arrangement proceedings were opened, and thus the possible current possibility of selling its shares to a third party - the Management Board of the Company decided that there are indications to take up debt due to payment of the sale price for shares of Małpka SA additional write-off (up to 100% of the total receivables), except for the one mentioned in note 20 in the consolidated financial statements of the Group for 2016. As indicated above, the write-off is charged to the profit and loss for 2017 and is made up of 226,451,000 PLN as the principal amount and 6.210 thous. PLN for interest. The Management Board of the Company points out that the write-down for receivables for shares of Małpka S.A. it does not pose a threat to the Company's financial liquidity.

Source: company website, investor relations, current and periodic reports.

Company information
Company name:Czerwona Torebka SA
Adress: ul. Taczaka 13 61-819 Poznań
Phone:+48 61 6232800

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