KDM Shipping Public : Raporty biezace 6

KDM SHIPPING PUBLIC LIMITED REPORT AND FINANCIAL STATEMENTS‌‌

For the year ended 31 December 2016

KDM Shipping Public Limited

REPORT AND FINANCIAL STATEMENTS

For the year ended 31 December 2016

C O N T E N T S

Page

Officers and Professional Advisors Management Report

Independent Auditors' report

Statement of profit or loss and other comprehensive income Statement of financial position

Statement of changes in equity Statement of cash flows

Notes to the financial statements Additional Information

I

2 - 4

5 - 8

9

10

11

12

13 - 26

KDM Shipping Public Limited

OFFICERS AND PROFESSIONAL ADVISORS

Board of Directors

Secretary

Independent Auditors Bankers

Registered Office

Kostiantyn Moloclkovets - Executive Director, CEO Denys Molodkovets - Executive Director, CFO

Boomer Secretarial Limited KPMG Limited

UBS AG

AS RIETUMU BANKA

3 Michael KoutsoftaStr. 3031, Limassol

Cyprus

2

KDM Shipping Public Limited MANAGEMENT REPORT

The Board of Directors of KDM Shipping Public Limited (the "Company") presents to the members its Annual Report together with the audited financial statements of the Company for the year ended 31 December 2016.

PRINCIPAL ACTMTIES AND NATURE OF OPERATIONS OF THE COMPANY

The principal activity of the Company which remained the same as in the previous year is the holding of investments in ship management entities situated in Ukraine and Panama.

FINANCIAL RESULTS

The Company's financial results for the year ended 31 December 2016 are set out on page 9 to the financial statements. The net loss for the year attributable to the owners of the Company amounted to US$181.217 (2015: US$161.194 loss).

EXAMINATION OF THE DEVELOPMENT, POSITION AND PERFORMANCE OF THE ACTMTIES OF THE COMPANY

The current financial position as presented in the financial statements is not considered satisfactory and the Board of Directors is making an effort to reduce the Company losses.

DMDENDS

The Board of Directors does not recommend the payment of a dividend. MAIN RISKS AND UNCERTAINTIES

The main risks and uncertainties faced by the Company and the steps taken to manage these risks, are described in note 15 to the financial statements.

USE OF FINANCIAL INSTRUMENTS BY THE COMPANY

The Company is exposed to interest rate risk, credit risk and dividends from the financial instruments it holds.

INTEREST RATE RISK

Interest rate risk is the risk that the value of financial instruments will fluctuate due to changes in market interest rates. Borrowings issued at variable rates expose the Company to cash flow interest rate risk. Borrowings issued at fixed rates expose the Company to fair value interest rate risk. Company's management monitors the interest rate fluctuations on a continuous basis and acts accordingly.