Current report No. 6/2019 dated 26 of March 2019
Proposal of the Management Board of Wirtualna Polska Holding S.A. on the allocation of the Company's profit and a positive opinion of the Company's Supervisory Board
Legal basis: art. 17 sec. 1 MAR
Contents of the report:
The Management Board of Wirtualna Polska Holding SA ("Company"), hereby informs that on March 25, 2019, it adopted a resolution regarding the motion to the General Meeting of Wirtualna Polska Holding SA for payment of dividend to the Company's Shareholders in the amount of PLN 1.00 (one zloty) per one share, in the total amount not higher than PLN 29,060,850.00 (twenty-nine million sixty thousand eight hundred fifty zlotys), by designating for this purpose:
- the Company's net profit shown in the Company's standalone financial statements for the financial year 2018 in the amount of PLN 408,286.47 (in words: four hundred eight thousand two hundred and eighty-six zlotys 47/100) in full and
- PLN 28,652,563.53 (twenty-eight million, six hundred and fifty-two thousand, five hundred and sixty-three zlotys 53/100) from the previous years profits of the Company.
The amount of the dividend per share will be rounded down to full grosze, whereas the difference between the amount indicated above and the amount of dividend due to Shareholders, including such rounding, will be allocated to the Company's supplementary capital.
In addition, the Company's Management Board filed for the adoption of the day of setting the right to dividend as at June 7, 2019 and the date of payment of the dividend as of June 17, 2019.
The proposed distribution of profit is compliant with the Company's Dividend Policy adopted on December 20, 2016, according to which the Management Board of the Company will apply to the General Meeting for payment of a dividend of more than PLN 1 per share, however, no more than 70% of the consolidated net profit of the Capital Group of the Company shown in the financial statements for a given financial year. The Management Board recommending the payment of a dividend takes into account important factors, including in particular:
- current financial situation of the Capital Group of the Company,
- investment plans of the Capital Group of the Company,
- potential acquisition targets of companies being part of the Capital Group of the Company,
- expected level of free cash in the Company in the financial year in which the payment of the dividend is due.
At the same time, the Management Board of the Company informs that on March 25, 2019, the Supervisory Board of the Company adopted a resolution, according to which it approved the above-mentioned motion of the Management Board. The Supervisory Board of the Company expressed its opinion on the Management Board's request to adopt the dividend record date as at June 7, 2019 and the date of payment of the dividend as at June 17, 2019.
The final decision regarding the allocation of the Company's profit to the payment of dividends will be made by the Ordinary General Meeting of the Company.
Legal basis: Article 17 para. 1 of Regulation No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (regulation on market abuse) and repealing Directive 2003/6 / EC of the European Parliament and of the Council and Commission Directive 2003/124 / EC , 2003/125 / EC and 2004/72 / EC
Signatures of persons representing the Company:
Jacek Świderski - President of the Management Board
Elżbieta Bujniewicz-Belka - Member of the Management Board