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Approval the Financial Statement - 30 June 2014

Dear All,

We kindly remind you, that with regards to companies, in which the fiscal year corresponds to the calendar year, 30 June is the deadline for the approval by the company‘s competent authority of the annual financial statement for the year 2013.

As far as limited liability companies are concerned, it means that no later than on 30 June the General Meeting of Shareholders of the Company should be called in order to: (i) approve the company’s annual financial statement, and the Management Board Activity Report, (ii) decide about the division of profits or financing of losses, and (iii) grant approval of the performing duties by the members of the company governing bodies.

Furthermore, we would like to inform, that under  article 69 of the Accountancy Act it is required that the company filed to the register court of the company, the following documents (i) annual financial statement with the resolution of approving it, (ii) the Management Board Activity report or eventually (iii) the auditor’s opinion. The above mentioned documents should be filed within 15 day from the day of their approval.

Notwithstanding this obligation, the annual financial statement and the copy of the resolution approving it should be submitted within 10 days from the date of their approval to the competent Tax Office.

In case you had any questions or comments, please do not hesitate to contact us.