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Termination of contract with audit firm for audit and review of financial statements
Current Report No. 8/2019
Date: February 25th 2019
Legal basis: Art. 56.1.2 of the Public Offering Act − Current and periodic information
Subject: Termination of contract with audit firm for audit and review of financial statements
Text of the report:
The Management Board of Skarbiec Holding S.A. (the “Company”) announces that on February 25th 2019 the Company and PricewaterhouseCoopers Polska Spółka z ograniczoną odpowiedzialnością (“PWC”) decided to terminate, by mutual agreement, the contract of July 21st 2017 for audit of the financial statements, whereby PWC will not audit the financial statements for the period July 1st 2018–June 30th 2019 and will not review the financial statements for the period July 1st 2018–December 31st 2018 (the “Agreement”).
Pursuant to Par. 8 of the Minister of Finance’s Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated March 29th 2018 (Dz.U. of 2018, item 757), the Company publishes information concerning termination of the contract.
1) Name of audit firm with which the contract has been terminated:
PricewaterhouseCoopers Polska Spółka z ograniczoną odpowiedzialnością.
2) Date of execution, subject matter and term of the contract: Contract of July 21st 2017 for audit of financial statements. The contract provides for audit of the Company’s financial statements prepared in accordance with the International Standards on Auditing as endorsed by the European Union and of the consolidated financial statements of the Group in which the Company is the Parent. The financial statements to be audited were the Company’s financial statements for the reporting periods July 1st 2016−June 30th 2017, July 1st 2017−June 30th 2018, and July 1st 2018−June 30th 2019.
3) Date and reasons for termination:
The contract is terminated on the Agreement date. The reason for the termination is the occurrence of circumstances which prevent fulfilment of the requirements concerning independence of the statutory auditor and the audit firm.
4) Indication of whether the decision to terminate the contract was taken by the audit firm or by the Company:
The decision to terminate the contract was taken by both parties.
5) Indication whether:
a) a reservation or a negative opinion was made in the auditor’s report on the Company’s separate or consolidated financial statements, or whether the audit firm refused to issue its opinion – none,
b) a qualified conclusion or a negative conclusion was made in the review report on the Company’s condensed separate financial statements or condensed consolidated financial statements, or whether the audit firm refused to issue its conclusions – none,
6) Governing bodies recommending or approving the change of the audit firm.
The Supervisory Board is the body approving the change of the audit firm.
7) Discrepancies in interpretation and application of the law or the provisions of the articles of association concerning the subject matter and the scope of an audit, review or other services, that occurred between the management personnel and the auditor who audited, reviewed or provided other services with respect to the Company’s separate or consolidated financial statements during the term of the contract to be terminated, with an indication of how the discrepancies were resolved – none.
Forthwith upon receipt of PWC’s letter to the Commission, explaining the reasons for the termination, the Company will publish the information in a current report.
Legal basis: Par. 5.3 in conjunction with Par. 8 of the Minister of Finance’s Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated March 29th 2018 (Dz.U. of 2018, item 757).
For the Company:
Anna Milewska – Member of the Supervisory Board delegated to serve as
Member of the Management Board
Paweł Tokarski – Member of the Management Board
Date: February 25th 2019
Legal basis: Art. 56.1.2 of the Public Offering Act − Current and periodic information
Subject: Termination of contract with audit firm for audit and review of financial statements
Text of the report:
The Management Board of Skarbiec Holding S.A. (the “Company”) announces that on February 25th 2019 the Company and PricewaterhouseCoopers Polska Spółka z ograniczoną odpowiedzialnością (“PWC”) decided to terminate, by mutual agreement, the contract of July 21st 2017 for audit of the financial statements, whereby PWC will not audit the financial statements for the period July 1st 2018–June 30th 2019 and will not review the financial statements for the period July 1st 2018–December 31st 2018 (the “Agreement”).
Pursuant to Par. 8 of the Minister of Finance’s Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated March 29th 2018 (Dz.U. of 2018, item 757), the Company publishes information concerning termination of the contract.
1) Name of audit firm with which the contract has been terminated:
PricewaterhouseCoopers Polska Spółka z ograniczoną odpowiedzialnością.
2) Date of execution, subject matter and term of the contract: Contract of July 21st 2017 for audit of financial statements. The contract provides for audit of the Company’s financial statements prepared in accordance with the International Standards on Auditing as endorsed by the European Union and of the consolidated financial statements of the Group in which the Company is the Parent. The financial statements to be audited were the Company’s financial statements for the reporting periods July 1st 2016−June 30th 2017, July 1st 2017−June 30th 2018, and July 1st 2018−June 30th 2019.
3) Date and reasons for termination:
The contract is terminated on the Agreement date. The reason for the termination is the occurrence of circumstances which prevent fulfilment of the requirements concerning independence of the statutory auditor and the audit firm.
4) Indication of whether the decision to terminate the contract was taken by the audit firm or by the Company:
The decision to terminate the contract was taken by both parties.
5) Indication whether:
a) a reservation or a negative opinion was made in the auditor’s report on the Company’s separate or consolidated financial statements, or whether the audit firm refused to issue its opinion – none,
b) a qualified conclusion or a negative conclusion was made in the review report on the Company’s condensed separate financial statements or condensed consolidated financial statements, or whether the audit firm refused to issue its conclusions – none,
6) Governing bodies recommending or approving the change of the audit firm.
The Supervisory Board is the body approving the change of the audit firm.
7) Discrepancies in interpretation and application of the law or the provisions of the articles of association concerning the subject matter and the scope of an audit, review or other services, that occurred between the management personnel and the auditor who audited, reviewed or provided other services with respect to the Company’s separate or consolidated financial statements during the term of the contract to be terminated, with an indication of how the discrepancies were resolved – none.
Forthwith upon receipt of PWC’s letter to the Commission, explaining the reasons for the termination, the Company will publish the information in a current report.
Legal basis: Par. 5.3 in conjunction with Par. 8 of the Minister of Finance’s Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated March 29th 2018 (Dz.U. of 2018, item 757).
For the Company:
Anna Milewska – Member of the Supervisory Board delegated to serve as
Member of the Management Board
Paweł Tokarski – Member of the Management Board