Bearing in mind the reliability of communication with capital market participants, the Management Board of SECO / WARWICK S.A. ("Issuer") informs that on 20 December 2017, it adopted a resolution to sell 98% shares in the company SECO / WARWICK Allied Pvt. Ltd. ("SW Allied") based in India. In the consolidated annual report of the SECO / WARWICK Group for 2017. the operations of SW Allied will be recognized in the income statement as discontinued operations, whereas in the balance sheet of the Group as assets held for sale and liabilities related to assets held for sale. br> The Management Board's decision to take an active search for the purchaser of shares of SW Allied is dictated failure to achieve the business objectives set by the entity and a significant weakening of prospects for doing business in this form on the Indian market. br> In connection with the classification of SW Allied as assets held for sale, the consolidated statement of comprehensive income for 2017 will be charged with PLN 12.2 million. The intention of the Issuer's Management Board is to maintain sales activity in India through SECO / WARWICK Systems and Services India PVT. Ltd. with a sales and service profile, and through the sale of shares in SW Allied reduced operating costs and risks associated with the presence on this market. The production of devices for the Indian market will be concentrated in SECO / WARWICK S.A. in Poland. br> The Issuer's Management Board draws attention to the fact that the estimates are based on unaudited data and therefore may change after the auditor's audit of the financial statements for the fiscal year 2017. br> If new relevant information about the process appears of sale of SW Allied, the Issuer will provide an appropriate current report. br> Legal basis: Art.17 par. 1 MAR - confidential information. br>
Source: company website, investor relations, current and periodic reports.