The Board of Directors of IMS S.A. (“Company”, “Issuer”) in connection with the recommendation of the European Securities and Markets Authority (ESMA) and the Polish Financial Supervision Authority informs about the effects of the spread of SARS-Cov-2 coronavirus causing COVID-19 disease on the Issuer’s operations and financial results. In line with the assessment as at 16 March 2020, the Issuer expects that the coronavirus pandemic may affect adversely (at leasts in short term – 2-4 month outlook) the financial results and operations of the IMS Capital Group (“IMS Group”). The effects cannot be estimated as at the date of preparation of this report and depend on factors which remain beyond the Issuer’s control. In particular, the coronavirus pandemic may affect adversely revenues from advertising services rendered mostly in shopping centres and event related operations. At the same time, it is not possible to estimate the potential effect of the government assistance on the situation and results of the IMS Group.
The Board of Directors of the Issuer will analyse the situation connected with the effect of the coronavirus pandemic on the operations and financial results of the IMS Group on an ongoing basis. Any new circumstances, having a significant effect on the financial results and the economic position of the Issuer will be published in separate communications.