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GORENJE, d.d., Velenje

Gorenje to actively explore strategic partnership opportunities

Pursuant to the Rules and Regulations of the Ljubljana Stock Exchange, d.d., the Financial Instruments Market Act, the Corporate Governance Code for Joint Stock Companies, and in accordance with the provisions of the Code of Best Practice for WSE Listed Companies, the company Gorenje, d.d., Velenje, hereby makes the following announcement:

Gorenje Group’s strategic guidelines have been constantly driving the group towards the exploration of potential strategic alliance opportunities aimed at pursuing growth of business, economies of scale to guarantee cost competitiveness, strengthening brand power, accessing prime distribution channels, accelerating product innovation and business digitalisation. The globalisation and consolidation trends which have been characterizing the white good industry over the last years, have further stimulated the group to proactively search for available strategic partnership opportunities.

Based on a preliminary analysis of trends in the household appliances industry and related potential strategic alliance opportunities, prepared by Rothschild & Co, the Management Board, having informed  the Supervisory Board, decided to start with active search for a suitable strategic partner, that would support Gorenje Group’s long-term and sustainable growth and development, which could also lead to a participation of the selected strategic partner in Gorenje’s share capital. Renowned International financial advisor shall be mandated to support these activities.

These activities should be concluded by the end of the third quarter of 2018; Gorenje shall communicate more about these activities when there is any concrete development or should these activities be terminated.

Disclaimer: The English text for all announcements is for information purposes only!

The information in this announcement will be available on the official web site of the company Gorenje, d.d., Velenje, Slovenia, www.gorenjegoup.com, for at least 5 years from the date of this announcement.

Gorenje, d.d.,
The Management Board
Date: 09.11.2017