Catom Annual Report 2019 EN

31.3. Guarantees for subsidiaries Catom B.V. has issued an unconditional guarantee for the debts of its subsidiaries Shoppoint B.V. and Van Wifferen B.V. for a period of at least 12 months after the date of these annual accounts. Subsequent events No material events have taken place between the balance sheet date and the date of signing of the annual accounts for 2019 that would need to be presented or explained in the annual accounts. Having said that, four more oil traders and several petrol stations were taken over. Earlier this year, the outbreak and spread of Covid-19 became world news. In response to this pandemic, restrictive measures were imposed by the Dutch government with effect from mid-March 2020. As a supplier of fuels and lubricants, Catom is active in one of the sectors that the government has identified as vital, which means that its core activities in wholesale, B2B and retail will be continued. Practice has shown that the government measures have been implemented in such way that they are workable, and Catom has been well able to adjust to the present situation. The risks, if any, lie in further macro- economic developments, both in terms of fuel prices and in terms of economic developments on the whole in the long run; we might see a sharp decline in other industries such as construction and transport, which could also affect the financial results of Catom and its subsidiaries. It goes without saying that it is impossible to say, at this time, just how detrimental these developments will be, but in spite of that uncertainty, Catom is confident that its results over 2020 will be satisfactory. 32.

33.

Signatures to the Financial Statments

Breda, 18 May 2020

Grow or Go B.V.

Clear View B.V.

On its behalf:

On its behalf:

H.P. de Leeuw den Bouter

J.W.F. Westerhuis

92