Current Report No. 8/2016 dated 24 march 2016

Recommendation of the Management Board of Wirtualna Polska Holding S.A. regarding the dividend for the financial year 2015

Legal basis: Article 56 sec. 1 item 2 of the Act dated 29 July 2005 on Public Offering, the Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies.

Contents of the report:

The Management Board of Wirtualna Polska Holding S.A. (“the Company”) hereby announces that on March 24, 2016 the Management Board adopted a resolution on recommending the General Meeting of the Company to allocate the net profit of the Company for the year 2015 to the reserve capital of the Company and not to pay out a dividend.

The Management Board of the Company informs that it will submit a motion to the Supervisory Board of the Company to recommend the General Meeting of the Company to allocate the net profit of the Company for the financial year 2015 to the reserve capital of the Company and not to pay out a dividend according to the recommendation of the Management Board.
The Management Board does not recommend any payment of dividend from the net profit for the financial year ended 31 December 2015. The Management Board intends to designate the entire financial profit generated in that period, if any, for the financing of the Group’s development.

Following the above period, the Management Board will consider the payment of dividend and may recommend that payment of dividend be discussed by the shareholders at the General Meeting. The Management Board will make such recommendation mostly on the basis of the value of generated cash flows and net profit presented in the stand-alone and the consolidated annual financial statements of the Company, the Group’s investment needs as well as the cost of the Company procuring debt financing, and the amounts which could be designated for dividend payment.

Legal basis: Article 56 sec. 1 item 2 of the Act dated 29 July 2005 on Public Offering, the Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies

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