April 10, 2018 / 8:46 AM / 15 days ago

BRIEF-2.4 Mln Zloty Impairment To Lower Setanta's FY Net Result

April 10 (Reuters) - SETANTA ASI SA:

* SAID ON MONDAY THAT IT HAS DECIDED TO BOOK 1.8 MILLION ZLOTY WRITE-DOWN ON VALUE OF ITS UNIT WARSAW PROPERTIES SP. Z O.O. THAT WILL AFFECT COMPANY’S FY 2017 NET RESULT

* HAS DECIDED TO RECOGNISE 0.4 MILLION ZLOTY IMPAIRMENT ON ITS STAKE VALUE IN CITY INSPIRE SA, THAT WILL AS WELL AFFECT COMPANY’S FY 2017 NET RESULT

* HAS RESOLVED TO BOOK 168,000 ZLOTY IMPAIRMENT ON ITS STAKE IN EXCELEAD SA THAT WILL ALSO LOWER COMPANY’S FY 2017 NET RESULT

* ALL THESE WRITE-DOWNS ARE NON-CASH EXPENSES AND WILL HAVE NO IMPACT ON THE COMPANY’S LIQUIDITY

* FINAL VALUES OF WRITE-DOWNS WILL BE PRESENTED IN FY 2017 REPORT THAT WILL BE PUBLISHED ON APRIL 27

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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