April 30, 2018 / 1:18 PM / 21 days ago

BRIEF-Prochnik Creates Reserves, Books Write-Downs

April 30 (Reuters) - PROCHNIK SA:

* SAID ON FRIDAY FOLLOWING IMPAIRMENT TESTS CO DECIDED TO CREATE GOODWILL WRITE-DOWN FOR THE PURPOSE OF PREPARING FY 2017 FINANCIAL STATEMENTS

* IN CONNECTION WITH RECEIVED VALUATION OF RAGE AGE TRADEMARK CO DECIDED TO CREATE WRITE-DOWN IN ITS CONSOLIDATED FINANCIAL STATEMENTS IN THE AMOUNT OF 10.3 MILLION ZLOTYS

* CO INFORMED ABOUT OTHER WRITE DOWNS TO AFFECT FY 2017 FINANCIAL STATEMENTS ON APRIL 23

* FOLLOWING ITS APPLICATION TO OPEN A REHABILITATION PROCEEDING, THE COMPANY HAS ALSO DECIDED TO CREATE 11.3 MILLION ZLOTYS RESERVE FOR THE IMPLEMENTATION OF ITS PRELIMINARY RESTRUCTURING PLAN AND 0.5 MILLION ZLOTYS RESERVE FOR UNUSED HOLIDAY LEAVES

* COMPANY FILED MOTION TO OPEN RESTRUCTURING PROCEEDINGS IN MARCH

Source text for Eikon:,

Further company coverage: (Gdynia Newsroom)

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