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Ronson Development a step closer to moving itsregistered office to Poland

Nir Netzer, CEO of Ronson Development

The management board of Ronson Development, with the support of the supervisory board, has decided to commence the procedure to move the Company's registered office from the Netherlands to Poland. This step will increase the Group’s operational efficiency and bring tangible benefits to the Company and its share holders.

“Moving the registered office to Poland is a just natural step for Ronson. Our operations are focused entirely on the Polish market. All our investments are here, our main office is located in Warsaw, and our shares and bonds are listed in Warsaw. The migration willenhance the transparency and decrease the bureaucracy: no double legislation or overlapping corporate governance. That will be beneficial for all parties–the Company, shareholders and bondholders,” said Nir Netzer, CEO of Ronson Development.

“Moving Ronson’s registered seat from the Netherlands to Poland may reduce administrative expenses. We estimate that the annual savings may amount to approximately EUR 200,000. It is therefore a tangible benefit for the Company, which will be fully visible in our financial results as of2019,”added Rami Geris, a management board member and CFO of Ronson Development.

Earlier in the process of moving the registered seat to Poland the Company was transformed into a European company (societaseuropaea), and its name was changed to Ronson Development SE from Ronson Europe N.V. The present decision brings the company closer to the final transfer of its registered office to Warsaw. The decision still needs to be validated by a GM resolution. The management board expects this to happen by September 2018.

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