PZL Wrocław - adjusted NAV method (PLN thousand) [23] [23]

Price lower than 120% of the net value of the tangible assets

The adjusted net assets value method is a way of valuing a going concern by adjusting the value of all assets and liabilities to the fair market value.

in an amount not to exceed 15% of the Fund's net assets.

The share capital is equal to the net assets of the fund.

If the UCITS invests more than 5% of its assets in these particular bonds issued by one issuer, then the total value of these investments must not exceed 80% of the value of these assets of the UCITS.

Contributor’s share of fair value of the net costs of the fund attributable to contributors.

It is calculated by deducting the fair value of the identifiable net assets acquired from the cost of the investment.

(b)the contributor’s share of the fair value of the net assets of the fund attributable to contributors.

Instead of relying on valuations by an independent expert, the parties would try through negotiations to reach agreements on the value of the net assets transferred.

The Board is authorised to temporarily suspend the calculation of the Net Asset Value of

The Board is authorised to temporarily suspend the calculation of the Net Asset Value of

The adjustment of liabilities with a book value of PLN 18,35 million to a net asset value of […] was realised on the basis of the planned 2007 debt-for-equity swap.

The Board is authorised to temporarily suspend the calculation of the Net Asset Value of

As of 31st of December 2016, AVTOVAZ market value was higher than the carrying value of AVTOVAZ net assets including goodwill in Renault's financials.