Current report in compliance with the stipulations of article no. 122 from the Law no. 24/2017 regarding Issuers of financial instruments and market operations

Thu, 07/27/2017 - 16:58

Significant event to be reported:

Information on press releases concerning Independent Limited Assurance Auditor Report on the information included in the current reports issued by the Company in accordance with requirements of Law 24/2017 (Article 82) and Regulation no. 1/2006

The Company Alro S.A. informs its shareholders as well as investors that the news releases and, especially,  the ones published by the Financial Newspaper (Ziarul Financiar), under the headline „Ernst & Young, Auditor of  Alro Slatina, finds nonconformities in the semestrial statement but, surprisingly, the Company shares increase. „The details indicated in the attached current reports are not in compliance with the agreements/contracts presented to us by the Company.” are completely false and are based on a misperception of the content of the Independent Auditor Report. 

Conclusions of the Independent Auditor Report,   publicly available on the website of the Bucharest Stock Exchange as well as on the Company’s website, are quite clear:

Conclusion:

Based on the procedures performed and evidence obtained, as described above, regarding the legal documents which are included in the Reporting Schedules, nothing has come to our attention that causes us to believe that:

a) The details as indicated in the attached Reporting Schedules are not in accordance with the related contracts/agreements presented to us by the Company.

b) The details in the attached Reporting Schedules are not, in all material respects, consistent with the requirements of the legislation.

c) The related contracts/agreements provided to us were not properly authorized by representatives of the Company.

d) The prices have not been established by mutual agreement between the parties in accordance with the type of goods/services and also by considering other terms and conditions mentioned in the respective contracts signed between the parties.

e)  The terms and conditions of the contracts reported by the Company under which transactions have been completed with administrators, employees, significant shareholders, as well as with the persons related to them, are not established on the basis of the contracts signed by the Company according to the type of services and to other terms and conditions agreed between the parties.

The Company together with its consultants analyses the situation and measures that are to be taken to protect the interests of the Company and its shareholders.