ABSTRACT OF MINUTES
OF THE 7th/19.3.2013 MEETING OF THE BOARD OF DIRECTORS


Subject: Financial Statements for the period of 01.01.2012 – 31.12.2012 according to the International Financial Reporting Standards.

The Board of Directors approved the Financial Statements of HEDNO S.A. along with the Notes which constitute their indispensable part, as well as the Executive Summary of HEDNO S.A. Board of Directors for the period from 01/01/2012 until 31/12/2012, concluded according to the International Financial Reporting Standards.
The Financial Statements in question include:

- Statement of Income
- Statement of Comprehensive Income
- Statement of Financial Position
- Statement of Changes in Equity
- Statement of Cash Flows


-----------------------------------------------------------------