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IR Release regarding 1Q2020 Public notification (non-consolidated)

21 Apr 2020 | 17:16

In connection with the decision taken by the Bulgarian Parliament to extend the state of emergency in the country until May 13, 2020 due to the spread of the coronavirus COVID-19, Industrial Holding Bulgaria PLC announces that it intends to disclose its Public notification for financial position as of 31 March 2020 on an individual basis, after the period initially provided for in the Law on Public Offering of Securities. The Company will benefit from the extension of the time limits, regulated by the Law on Measures and Actions during the State of Emergency, announced by a decision of the Bulgarian Parliament of March 13, 2020This decision was taken because at a national, European and world level it is still unclear how long and how the COVID-19 pandemic will continue, nor can it be reasonably foreseen how it will develop and manifest itself. In this regard, the management’s opinion is that there is still high uncertainty and it is not possible to make a reliable assessment and adequate measurement of the effects of the consequences of the pandemic on the recoverable value of investments and loans granted by the Company as of 31.03.2020. Therefore, the Public notification may not give a fair and true view of the financial position, results of operations and cash flows.

Industrial Holding Bulgaria PLC will announce its Public notification for financial position as of 31 March 2020 on an individual basis, within the extended terms. The Company will additionally notify the expected date of announcement of the Public notification.

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