DOCSLIB.ORG

Atlas Estates Limited Approved by Komisja Nadzoru Finansowego (The Polish Financial Supervision Authority) on 31 January 2008

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Atlas Estates Limited Approved by Komisja Nadzoru Finansowego (The Polish Financial Supervision Authority) on 31 January 2008 DISCLAIMER: THIS DOCUMENT CONSTITUES THE TRANSLATION FROM THE POLISH PROSPECTUS OF ATLAS ESTATES LIMITED APPROVED BY KOMISJA NADZORU FINANSOWEGO (THE POLISH FINANCIAL SUPERVISION AUTHORITY) ON 31 JANUARY 2008 ATLAS ESTATES LIMITED (a closed-ended investment company incorporated in Guernsey and registered with number 44284) This prospectus (the “Prospectus”) has been prepared in connection with the admission to trading on a regulated market of ordinary shares each with a nominal value of EUR 0.01 (the “Shares”) in ATLAS ESTATES LIMITED, a company incorporated with limited liability in Guernsey as a closed-ended investment company (the “Company” and, together with its subsidiaries, the “Group” or the “Atlas Group”). The Shares were admitted to trading on the AIM, i.e. the un-regulated market of the London Stock Exchange plc, on March 2006. The Shares are not admitted to trading on any regulated market. Based on this Prospectus, an application is made by the Company for the admission to trading on the Warsaw Stock Exchange (the “WSE”) of all existing Shares that are or will be dematerialized within the meaning of the Act on Trading in Financial Instruments (the “Admission Shares”). Trading in the Shares on the WSE is expected to commence on or about 12 February 2008. This Prospectus does not constitute an offer to sell, or the solicitation of an offer to buy, the Shares. Neither the Prospectus nor the Shares have been approved in or notified to any regulatory authority in any jurisdiction other than in the Republic of Poland. Neither the U.S. Securities and Exchange Commission nor any state securities and exchange commission in the United States nor any other US securities authority has approved or refused to approve the introduction of the Shares to trading on the WSE, nor has any such commission or authority confirmed the compliance or completeness of this document. For a description of selected risk factors to be considered in connection with any contemplated investment in the Shares please see the Chapter “Risk Factors”. The Admission Shares will be registered in Poland at the depository maintained by the National Depository for Securities (Krajowy Depozyt Papierów Wartościowych S.A.) (the “KDPW”) through the clearing system of Euroclear Bank (“Euroclear”) which acts as an intermediary between CRESTCo. Limited (“CrestCo”), and the system of the KDPW. IMPORTANT NOTICE TO HOLDERS OF SHARES IN CERTIFICATED FORM Holders of the Shares in certificated form (i.e. document form), for example persons who acquired Shares in a private transaction, should be aware that due to certain restrictions under applicable provisions of Polish law, admission to trading on the WSE will be sought only with respect to those Shares which exist in uncertificated (book-entry) form within the meaning of the Act on Trading in Financial Instruments. Consequently, the holders of such certificated Shares will not be able to sell their Shares on the WSE. Holders of Shares in certificated form should obtain legal advice regarding the resale of such Shares in accordance with applicable laws. In view of the fact that the number of the Shares to be admitted to trading on the WSE will be lower than the total number of the Shares, the Company shall, on a regular basis, monitor the number of the new uncertificated Shares recorded in the CREST and shall, as and when needed, submit appropriate application requesting the registration of such additional Shares at the KDPW and for the admission and introduction thereof to trading on the WSE, so as to ensure equal treatment of the holders of uncertificated Shares with respect to their ability to transfer the Shares between the systems of the KDPW and CREST and the ability to trade such Shares on the WSE and the AIM. Capitalised terms used in this Prospectus have the meaning ascribed to them in the Section “Definitions” or elsewhere in this Prospectus. ATLAS ESTATES LIMITED PROSPECTUS TABLE OF CONTENTS SUMMARY ........................................................................................................................................................7 Overview.............................................................................................................................................................7 Group History....................................................................................................................................................10 Strategy .............................................................................................................................................................11 Competitive strengths........................................................................................................................................12 Attractive pipeline of real estate projects..........................................................................................................13 Summary of risk factors ....................................................................................................................................13 Summary of the selected financial data.............................................................................................................15 Summary of information on the Shares and the Admission Shares ..................................................................16 RISK FACTORS ...............................................................................................................................................17 Risks relating to the Group’s business ..............................................................................................................17 Risk relating to the real estate sector.................................................................................................................21 Risks relating to property development ............................................................................................................23 Risk associated with the real properties to let ...................................................................................................26 Risks related to the hotel operations of the Group ............................................................................................27 Risks related to the geographic markets in which the Group operates..............................................................27 Risks relating to the admission of the Admission Shares to trading on the WSE.............................................29 INTRODUCTORY INFORMATION ...............................................................................................................33 FORWARD-LOOKING STATEMENTS..........................................................................................................33 INDUSTRY AND MARKET INFORMATION...............................................................................................34 MACROECONOMIC AND STATISTICAL INFORMATION .......................................................................34 PRESENTATION OF FINANCIAL AND OTHER INFORMATION.............................................................34 DOCUMENTS ON DISPLAY..........................................................................................................................35 AUDITORS.......................................................................................................................................................36 LISTING OF THE SHARES ............................................................................................................................37 CAPITALIZATION AND INDEBTEDNESS..................................................................................................38 Working Capital Satement ................................................................................................................................40 Financial Structure and Funding Needs ............................................................................................................40 Information concerning any limitations on the use of capital resources ...........................................................41 DIVIDENDS AND DIVIDEND POLICY........................................................................................................42 General Information ..........................................................................................................................................42 Interim Dividends..............................................................................................................................................42 Dividends Paid for the Period Covered by Historical Financial Data...............................................................42 Dividend Payment Policy..................................................................................................................................42 EXCHANGE RATES........................................................................................................................................43 PLN/EUR ..........................................................................................................................................................43 GBP/EUR..........................................................................................................................................................43 SKK/EUR..........................................................................................................................................................43
Load more

Recommended publications
  • Annual and Sustainability Report 2018 of Porsche AG
    SCAN THIS CHART – how to use the augmented reality options Performance. Augmented reality makes the fascination of Porsche an even more intense experience. Annual and Simply download the Porsche Newsroom app from the App Sustainability Report Store or Google Play, select the of Porsche AG augmented reality function in the menu and look out for the 2018 labels SCAN THIS CHART and SCAN THIS PAGE. View the labelled tables, diagrams and pages on the screen of your smartphone or tablet – and SCAN bring the content to life. THIS CHART Performance. Letter from the Executive Board of Porsche AG 6 Sustainability as routine is Porsche’s overarch- There are two volumes in front of you: Important events 8 ing strategic aim. Financial success, environ- Perspective is intended to inspire, excite and Business performance 28 mental consciousness and social responsibility motivate you – to confront you, challenge you Outlook 36 do not contradict each other as far as Porsche and familiarise you with topics and proposi- is concerned. Quite the opposite, in fact. They tions that a car company like Porsche needs to Sustainability strategy and sustainability management 38 combine to form a whole that determines face up to in a time of dramatic shifts across Strategy and organisation 40 the company’s behaviour. the industrial landscape. Stakeholder management 44 Materiality analysis 48 Financial success is a Porsche watchword. But The future and how to shape it are happening Management approaches 50 social sustainability is too. Particularly as a today, because tomorrow is right in front of us. maker of exclusive and powerful sports cars, Continuous change is the motor of the future Employees, Society, Sport, Communication 62 Porsche sees that it has a responsibility to and thus also what drives Porsche to find Employees 64 increase the company’s acceptance and that solutions today for new challenges.
    [Show full text]
  • Innovation Ecosystems Ecosystems Innovation Regional
    QG-01-16-501-EN-C This book is produced by the Members of the European Committee of the Regions in close collaboration with Europe's cities and regions. The book is all about pioneering cities and regions - or reviewing the content of the book from activities CoR perspective: about regional innovation ecosystems. guide In recent years it has increasingly become apparent that only through sharing knowledge and working in partnership it is possible to st create truly competitive and sustainable economies meeting the needs of the 21 century. In order to achieve this, the European Union Ecosystems Innovation Regional can and must work with and for our citizens. For this to happen we need to achieve a change in mindset. This publication therefore seeks to stimulate bench-learning between regions and cities, sparking new ideas and fundamentally stirring economic development. Presenting some of the most inspiring projects across the EU, this book oers readers an opportunity to understand and explore how Europe's cities and regions are breaking new ground in regional development. The European Committee of the Regions is the EU's Assembly of 350 regional and local representatives from all 28 Member States, representing over 507 million Europeans. This book is an essential part of the process of implementing our political priorities for 2015-2020 and giving Europe's citizens the fresh start they need. In order to overcome its current challenges, Europe must establish a culture of co-creation and break its boundaries by moving towards entrepreneurial discovery, open innovation, experimentation and ISBN: 978-92-895-0876-6 action.
    [Show full text]
  • OECD Economic Surveys Slovak Republic
    OECD Economic Surveys Slovak Republic June 2017 OVERVIEW www.oecd.org/eco/surveys/economic-survey-Slovak-Republic.htm This Overview is extracted from the 2017 Economic Survey of the Slovak Republic. The Survey is published on the responsibility of the Economic and Development Review Committee (EDRC) of the OECD, which is charged with the examination of the economic situation of member countries. This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area OECD Economic Surveys: Slovak Republic © OECD 2017 You can copy, download or print OECD content for your own use, and you can include excerpts from OECD publications, databases and multimedia products in your own documents, presentations, blogs, websites and teaching materials, provided that suitable acknowledgment of OECD as source and copyright owner is given. All requests for public or commercial use and translation rights should be submitted to [email protected]. Requests for permission to photocopy portions of this material for public or commercial use shall be addressed directly to the Copyright Clearance Center (CCC) at [email protected] or the Centre français d’exploitation du droit de copie (CFC) at [email protected]. OECD Economic Surveys: Slovak Republic © OECD 2017 Executive summary ● The Slovak economy has been growing strongly ● Inclusiveness needs to be improved ● Enhancing public-sector efficiency to raise living standards for all 9 EXECUTIVE SUMMARY The Slovak economy has been growing strongly Growth is strong, but will weaken The Slovak Republic continues to exhibit robust because of population ageing economic performance.
    [Show full text]
  • SLOVAKIA 01/2021 Why SLOVAKIA
    SARIO GOOD SLOVAK INVESTMENT AND IDEA TRADE DEVELOPMENT AGENCY SLOVAKIA 01/2021 Why SLOVAKIA Key Facts Why SLOVAKIA Should Be Your Next Investment Destination WHY SLOVAKIA WHY SLOVAKIA GENERAL INFORMATION Total Area 49,035 km2 Population 5.4 million Why Closer Than Capital City Bratislava Member Of European Union, Eurozone, Schengen Area, OECD, WTO, NATO SLOVAKIA You Think Time Zone GMT +1 hour This publication is designed to provide SLOVAKIA is situated in the geographical center of an overview of Slovak investment & business Europe and is accessible from all key European economic environment including its key sectors. The main hubs. As a fully integrated EU member, Slovakia is a part purpose is to illustrate what SLOVAKIA has to offer of its internal market, which means that around 500 and why it should be considered as an ideal location million EU citizens can be easily accessed. for various types of businesses — ranging from manufacturing, global services and IT centers to research & development. BRATISLAVA Helsinki 600 million Oslo clients in radius Stockholm of 2,000 km Tallinn Moscow Edinburgh Riga Copenhagen Dublin Kaliningrad Vilnius Minsk Amsterdam London Berlin Warsaw Brussels Kiev Luxembourg Prague Paris BRATISLAVA Vienna Chisinau Bern Budapest Ljubljana Bucharest Zagreb Belgrade Sarajevo Sofia Madrid Podgorica Lisbon Rome Skopje Tirana Athens 1 2 WHY SLOVAKIA WHY SLOVAKIA LOCATION Strategic location in the heart 1 of Europe with great export potential SAFETY & STABILITY One of the safest and politically 2 most stable countries
    [Show full text]
  • Automotive Sector in SLOVAKIA Automotive Sector in Slovakia
    ENGLISH EDITION SARIO GOOD JANUARY 2020 SLOVAK INVESTMENT AND IDEA TRADE DEVELOPMENT AGENCY SLOVAKIA Automotive Sector in SLOVAKIA Automotive Sector in Slovakia This publication is designed to introduce Slovakia's dynamically growing automotive sector — facts and figures, its strengths and vision — to illustrate why Slovakia is an ideal location for doing business in this industry. total area 49,035 km2 population 5.4 million capital city Bratislava member of European Union, Eurozone, Schengen Area, OECD, WTO, NATO time zone GMT +1 hour Helsinki Oslo Stockholm Tallinn 300 million Moscow Edinburgh Riga clients in the radius Copenhagen of 1,000 km Dublin Kaliningrad Vilnius Minsk 600 million Amsterdam clients London Berlin Warsaw in the radius of 2,000 km Brussels Kiev Luxembourg Prague Paris Bratislava Vienna Chisinau Bern Budapest Ljubljana Bucharest Zagreb Belgrade Sarajevo Sofia Madrid Podgorica Lisbon Rome Skopje Tirana Athens 1 www.sario.sk Overview of the Automotive Industry In Slovakia The automotive industry has a strong tradition in Slovakia and became the most important sector and driving force of the Slovak economy. Over the past 20 years it has been an important source of foreign direct investment as well as industrial innovation. Top 10 Reasons to Invest in Automotive Industry in Slovakia 1 People employed directly by the 177,000 Strategic location in Europe 4 car producers & Tier 1 suppliers with great export potential 2 Wide supplier network in automotive sector People employed directly & indirectly 275,000 3 by the automotive
    [Show full text]
  • Tertiarisation and Globalisation Of
    TERTIARISATION AND GLOBALISATION OF PRODUCTIVE SYSTEMS: COMPARATIVE ANALYSIS Yulia Melikhova1, José Antonio Camacho1,2, Ivana Holubcová3 1 Institute of Regional Development, University of Granada (España) 2 Departament of International and Spanish Economics, University of Granada (España) 3 University of Economics in Bratislava (Slovakia) E-mail: [email protected], [email protected], [email protected] ABSTRACT: It is commonly known that the provision of services is currently carried out at a global level. Tertiary activities not only continuously increase their share in total employment and value added, but also in international trade and, as a consequence, in the processes of externationalisation and offshoring, characteristic of contemporary globalisation. These processes help enterprises, especially SMEs, get access to certain types of services which could not be provided internally, and thus increase their level of efficiency and consequently an overall degree of competitiveness of the regions, in which they operate. The objective of this work consists in an analysis of globalisation of services provision in several regions of the European Union (EU) focused on their productive systems. The study consists in comparison of Slovakia with four Spanish autonomous regions (Aragón, Madrid, Valencia and Andalucía). The methodology applied is based on input-output tables which enable to appreciate a variety of intersectoral relations existing in the economy. We calculate the level of tertiarization of economies (Camacho, 1999) and their degree of internationalization. The data on services imports obtained by means of input-output tables and services foreign direct investment enable to study in more depth the process of globalisation of services provision and establish relations with the process of tertiarisation of the economies.
    [Show full text]
  • The Slovak Republic Diagnostic Paper: Assessing Progress and Challenges in Developing a Sustainable Market Economy by Mateusz Szczurek and Marcin Tomaszewski
    The Slovak Republic diagnostic paper: Assessing progress and challenges in developing a sustainable market economy By Mateusz Szczurek and Marcin Tomaszewski November 2017 OFFICIAL USE Country diagnostics are an EBRD tool to identify the main obstacles to entrepreneurship and private sector development and to help shape the Bank’s strategic priorities and project selection in new country strategies. Each diagnostic informs the EBRD’s policy engagement with the authorities in the country. Each country diagnostic assesses the progress and challenges of the country of operations in developing a sustainable market economy. Private sector development and entrepreneurship are at the heart of the Bank’s mandate in the regions of operation of the bank, but the private sector in all EBRD countries faces a range of problems and obstacles. The diagnostic highlights the key challenges facing private companies and shows where each country stands vis-à-vis its peers in terms of six qualities of transition – competitive, well- governed, resilient, integrated, green, and inclusive – and points out the main deficiencies and gaps in each quality. The diagnostics draw on a range of methodologies and best practice for assessing how big different obstacles are. Extensive use is made of in-house expertise across the EBRD, along with surveys such as the Business Environment and Enterprise Performance Survey (BEEPS) and the Life in Transition Survey (LiTS), as well as other cross-country surveys and reports from institutions such as the World Bank, World Economic Forum and OECD. For some larger countries, the diagnostics also draw on specially commissioned studies of selected issues that are critical for private sector development in the country.
    [Show full text]
  • Tertiarisation and Globalisation of Productive Systems: Comparative Analysis
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Melikhova, Yulia; Ballesta, José Antonio Camacho; Holubcova, Ivana Conference Paper Tertiarisation and globalisation of productive systems: comparative analysis 52nd Congress of the European Regional Science Association: "Regions in Motion - Breaking the Path", 21-25 August 2012, Bratislava, Slovakia Provided in Cooperation with: European Regional Science Association (ERSA) Suggested Citation: Melikhova, Yulia; Ballesta, José Antonio Camacho; Holubcova, Ivana (2012) : Tertiarisation and globalisation of productive systems: comparative analysis, 52nd Congress of the European Regional Science Association: "Regions in Motion - Breaking the Path", 21-25 August 2012, Bratislava, Slovakia, European Regional Science Association (ERSA), Louvain-la-Neuve This Version is available at: http://hdl.handle.net/10419/120727 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence.
    [Show full text]
  • Slovak Telekom, A.S
    THIS DOCUMENT IS A TRANSLATION OF THE PROSPECTUS IN SLOVAK LANGUAGE APPROVED BY THE NATIONAL BANK OF SLOVAKIA MADE UNDER THE SOLE RESPONSIBILITY OF SLOVAK TELEKOM A.S. Slovak Telekom, a.s. Offering of up to 42,341,537 Shares in the form of Offer Shares and Global Depositary Receipts with one Global Depositary Receipt representing an interest in one Share Offer Price Range: EUR 17.70 to EUR 23.60 per Offer Share and U.S.$ 19.00 to U.S.$ 25.30 per Global Depositary Receipt This document has been approved by the National Bank of Slovakia (the NBS), which is the Slovak competent authority for the purposes of Directive 2003/71/EC, as amended (the Prospectus Directive), as a prospectus (the Prospectus) in accordance with Slovak Act No. 566/2001 Coll. on securities and investment services, as amended (the Slovak Securities Act), and Regulation (EC) No. 809/2004 of 29 April 2004 implementing the Prospectus Directive, as amended (the Prospectus Rules). This Prospectus has not been, and will not be, approved by any competent authority of the European Economic Area (EEA) other than the NBS. The Company has requested that the NBS notify the United Kingdom Financial Conduct Authority (the FCA) and Czech National Bank by providing a certificate of approval of the Prospectus (the Notification). This Prospectus has been prepared by Slovak Telekom, a.s. (the Company or Slovak Telekom), a company organised under the laws of the Slovak Republic. The Company accepts responsibility for the Prospectus and having taken all reasonable care to ensure that such is the case, to the best of the knowledge and belief of the Company, the information contained in this Prospectus is in accordance with the facts and contains no omission likely to affect its import.
    [Show full text]
  • Impact of the Covid-19 Pandemic on the Automotive Industry in Slovakia and Selected Countries
    SHS Web of Conferences 83, 01040 (2020) https://doi.org/10.1051/shsconf/20208301040 Current Problems of the Corporate Sector 2020 Impact of the Covid-19 pandemic on the automotive industry in Slovakia and selected countries Iveta Kufelová, 1*, Monika Raková2 1University of Economics in Bratislava, Faculty of Business Management, Department of Business Economy, Dolnozemská cesta1, 852 35 Bratislava, Slovak republic 2 University of Economics in Bratislava, Faculty of Business Management, Department of Business Economy, Dolnozemská cesta1, 852 35 Bratislava, Slovak republic Abstract. The new coronavirus has far-reaching economic impacts all over the world and, due to the openness of the Slovak economy, it also has an impact on Slovak companies as well as car plants. Except that paralyzed European demand for vehicles, as well as the entire supply chain. The result was the fact that there was no one to make or something to make. And so the manufacturers, together with the suppliers, closed their productions for operational and hygienic reasons. However, this will have a very big impact on the economy as a whole, as the car industry is a fundamental pillar. The paper is pointed to highlight the current effects of the pandemic and measures in the automotive industry in Slovak republic and selected countries. 1 Introduction The virus, which is faced by almost all countries of the world, has affected all countries and economies of Western Europe. Many of them have adopted restrictive measures that have slowed, paralyzed and even stopped the economy. As in European countries, the economies of the United Kingdom and the United States can be expected to weaken, especially due to the late response to the current situation.
    [Show full text]
  • THE DEVELOPMENT of URBAN STRUCTURE of BRATISLAVA in the TIME of POST-SOCIALIST TRANSFORMATION Pavol Korec*, Slavomír Ondoš** *
    THE DEVELOPMENT OF URBAN STRUCTURE OF BRATISLAVA IN THE TIME OF POST-SOCIALIST TRANSFORMATION Pavol Korec*, Slavomír Ondoš** *Comenius University, Faculty of Natural Sciences, Department of Human Geography and Demogeography, Bratislava, Slovakia ** Vienna University of Economics and Business, Research Institute for Spatial and Real Estate Economics, Vienna, Austria Abstract. The submitted paper overviews the development of urban structure of Bratislava after 1989. The main attention is given to three key-reasons of the city. Transformation of the economy is presented in the first part of the paper. In the time of last twenty years significant changes have been observed in the size of Bratislava´s population as well as in its structures. Development of the population of the city is described in second part of the paper. The last part of the paper is concentrated to disclose the trends of changes of inner spatial structure of Bratislava. To urban morphology change in Bratislava, spatial footprints 1991-2006, is the core theme in the frame of development of inner spatial structure of the city. In the paper there are analyzed some other relatively autonomous problems of the city, as a new geographical location of Bratislava, suburbanisation, energy demands of the city and others. Key Words: post-socialist transformation, economy, population, urban morphology change, inner urban structure, Bratislava Introduction Bratislava is a special urban structure, with its unique geographic location and special features of the physical-geographical, urban-morphological, functional-spatial and socio-demographic structure. In the time of past fifteen years all main attributes of Bratislava (economy, population, inner urban structure, position of the city in Slovakia and Europe and others) rapidly changed.
    [Show full text]
  • Annual Report 2020 Slovak Telekom Content
    ANNUAL REPORT 2020 SLOVAK TELEKOM CONTENT 03 AN INTRODUCTION TO THE SLOVAK TELEKOM GROUP 04 A FOREWORD BY THE CEO 06 2020 MILESTONES 08 THE SLOVAK TELEKOM GROUP PROFILE 09 EXECUTIVE BODIES 12 BUSINESS ACTIVITY REPORT 13 TECHNOLOGY, SERVICES AND PRODUCTS 17 HUMAN RESOURCES AND EMPLOYEES 19 COMMUNICATION 21 SOCIAL RESPONSIBILITY 25 DIGI SLOVAKIA 26 POSAM AND COMMANDER SERVICES 27 FINANCIAL STATEMENTS 28 CONSOLIDATED FINANCIAL STATEMENTS 74 SEPARATE FINANCIAL STATEMENTS 01 AN INTRODUCTION TO THE SLOVAK TELEKOM GROUP 04 A FOREWORD BY THE CEO 06 2020 MILESTONES 08 THE SLOVAK TELEKOM GROUP PROFILE 10 EXECUTIVE BODIES 4 A FOREWORD BY THE CEO Dear ladies and gentlemen, We had an extremely challenging 2020 - when a pandemic broke out around the world and greatly affected the functioning of the whole country. Telecommunications companies played an extremely important role; thanks to us, people were able to work from home, thereby enabling the operation of many companies. Children and students were able to continue their studies at a distance, and the form of entertainment also changed greatly as viewers began to watch TV programs and film streaming more often, and many also ventured into the video game segment. The current crisis has shown how dependent our society is on high-quality optical and mobile connections. And we are very proud of the efforts of each of our employees and suppliers - who have provided support to our customers despite the significant impact of the new situation and the impact on our business and its trends. Slovak Telekom is determined to continue investing in the country and networks, and improving services.
    [Show full text]