Current Report No. 39/2016 of 20 December 2016.
The adoption of the Dividend Policy by Management Board of Wirtualna Polska Holding S.A.
Legal basis: Art. 17 paragraph. 1 MAR - confidential information.
Contents of the report:
Board of Wirtualna Polska Holding SA (The "Company") announces that on 20 December 2016. adopted a resolution on the adoption of the Dividend Policy of the Company.
Below, the Company conveys the Dividend Policy:
The Dividend Policy of Wirtualna Polska Holding S.A.
Further to the declaration included in the Prospectus dated on April 10, 2015., Management Board of Wirtualna Polska Holding SA with its registered seat in Warsaw (hereinafter also referred to as WPH S.A. or the Issuer) has adopted the Dividend Policy dated December 20, 2016.
1. Subject to sec. 2 below, Management Board of Wirtualna Polska Holding S.A. will propose the payment of a dividend to the General Meeting at a level above PLN 1 per share, but not more than 70% of the consolidated net profit of the Issuer’s Capital Group reported in the financial statement for a given fiscal year.
2. When recommending the payment of a dividend by the WPH S.A,. Management Board WPH S.A. will consider all relevant factors, including in particular:
a)the current financial situation of the Issuer's Capital Group,
b) the investment plans of the Issuer’s Capital Group,
c) potential acquisition targets of companies belonging to the Issuer's Capital Group,
d) the expected level of free cash in the WPH S.A. in the financial year in which the payment of dividends are due.
1. The Dividend Policy applies as of the consolidated net profit of the Issuer’s Capital Group for the financial year ended December 31, 2016.
2. The decision on dividend payment by the WPH S.A. shall be taken by the General Meeting.
Legal basis: Art. 17 paragraph. 1 MAR - confidential information.
Signatures of the individuals representing the Company:
Jacek Świderski – President of the Management Board/Chief Executive Officer
Elżbieta Bujniewicz – Belka – Member of the Management Board/Chief Financial Officer
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