IMCOMPANY (IMC): Termination of the Agreement between Industrial Milk Company S.A. and KPMG Luxembourg - raport 1

UNI - EN REPORT No1/2017

The Board of Directors of Industrial Milk Company S.A.(hereinafter the Company) informs the shareholders that the agreement between the Company and its approved audit frim (cabinet de revision agréé) KPMG Luxembourg, a cooperative company (société coopérative) incorporated under the laws of Luxembourg, with registered office at 39, avenue John F. Kennedy, L-1855 Luxembourg, registered with the Luxembourg Register of Commerce and Companies under number B 149133, has been terminated by KPMG Luxembourg with effect as from 25 January 2017. Such resignation follows a divergence of views between the auditor and the Company regarding the accounting treatment of the long-term loans of the Company. In order to ensure a timely preparation of the annual financial statements of the Company for the financial year ended 31 December 2016, the Company is currently in the process of selecting a new approved audit firm (cabinet de révison agréé), the appointment of which will be submitted to the decision of the shareholders of the Company.