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Investor Presentaiton

15 20 20 25 25 resulted in the significant depreciation of EUR/ USD. As at 30 September 2015, the foreign exchange rate of CZK to EUR was 27.180; the exchange rate of CZK to USD was 24.266. 30 1/3/2017 3/22/2017 13/6/2017 8/31/2017 11/20/2017 2/12/2018 5/3/2018 and CZK/USD) 7/23/2018 10/9/2018 1/3/2019 3/24/2019 6/13/2019 EUR 9/2/2019 Figure 11: CZK development during 2013, 2014 and 2015 (CZK/EUR Source: ČNB Repatriation of capital and profit The Czech currency is convertible outside the Czech Republic. Czech companies may freely repatriate both current year profits and re- tained earnings in whatever currency they de- sire. However, they should follow the minimum capital requirements - if applicable - imposed by the CNB. Branches of foreign banks do not have such limitations as the capital is managed and moni tored centrally. The following types of payments from a Czech company to its foreign parent may be trans- ferred abroad freely, subject to the appropriate withholding taxes: dividends; - interest; - charges for intangible property (e.g. royalties and know-how fees); - management fees; -liquidation balances. 50 50
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