Legal basis
The Article 17 item 1 of the MAR – confidential information

The Board of Directors of Zakład Budowy Maszyn “ZREMB-CHOJNICE” S.A. (Joint Stock Company) („Issuer”, „Company”), with reference to the recommendation received from the statutory auditor on August 28, 2020 regarding the possibility of withdrawing from the preparation of consolidated financial statements and on the further application of IAS / IFRS, informs that on August 28, 2020 it adopted two resolutions: on changing the accounting policy and on the further application of IAS / IFRS.

Pursuant to the above recommendation of the statutory auditor, the Board of Directors of the Issuer withdrew from preparation of consolidated financial statements based on the Article 58 § 1 of the Act as of September 29, 1994. on accounting (Journal of Laws of 2019, item 351, as amended) The above change in the accounting policy was introduced starting from the periodic report for the first half of the financial year lasting from January 1 to June 30, 2020.
In addition, in connection with the content of the above resolution and the content of the auditor’s recommendation, the Board of Directors of the Issuer has also adopted a resolution on the continuation of the application of IAS / IFRS in accounting policy.

SIGNATURES OF THE COMPANY REPRESENTING PERSONS
Date First name and Surname Position/Function Signature
2020-08-28 Krzysztof Kosiorek-Sobolewski Chairman of the Board of Directors
2020-08-28 Marcin Garus Deputy Chairman of the Board of Directors