INDUSTRIAL MILK COMPANY S.A. - Acknowledgement of an error in the accounting treatment of long-term obligations associated with the IFC loan

POLISH FINANCIAL SUPERVISION AUTHORITY

UNI - EN REPORT No 7 / 2017

Date of issue: 2017-04-24

Short name of the issuer

INDUSTRIAL MILK COMPANY S.A.

Subject

Acknowledgement of an error in the accounting treatment of long-term obligations associated with the IFC loan

Official market - legal basis

art. 56. 1. 2 of Act on Public Offering.

Unofficial market - legal basis

Contents of the report:

The Board of Directors of Industrial Milk Company S.A. (hereinafter the Company) informs that the Company has acknowledged an error in the accounting treatment of its long-term obligations associated with the IFC loan, in particular with the Warrant Agreement (the Share purchase warrant) and the Additional return included in the Loan Agreement. Taking into account the above mentioned acknowledged error, when preparing the Consolidated Financial Statements for the year ended 31 December 2016, the Company will restate lines reflecting the effect of the Share purchase warrant and the effect of the Additional return in the Consolidated statement of financial position and in the Consolidated statement of comprehensive income for the year ended 31 December 2014 and for the year ended 31 December 2015.

Annexes

File Description

INDUSTRIAL MILK COMPANY S.A.

(fullname of the issuer)

INDUSTRIAL MILK COMPANY S.A. Spożywczy (spo)

(short name of the issuer) (sector according to clasification of the WSE in Warsow)

L-2540 Luxembourg

(post code) (city)

rue Edward Steichen 26-28

(street) (number)

[phone] [phone]

(phone number) (fax)

[email protected] www.imcagro.com.ua

(e-mail) (web site)

(NIP) (REGON)

SIGNATURE OF PERSONS REPRESENTING THE COMPANY

Date Name Position / Function Signature

2017-04-24 Alex Lissitsa CEO Alex Lissitsa

2017-04-24 Yulia Andrushkina Marketing & IR Director Yulia Andrushkina