Proposal of the Management Board of Wirtualna Polska Holding S.A. on the coverage of the Company's net loss for year 2020 and allocation of the Company’s previous profits 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 May 17, 2021, it adopted a resolution regarding the motion to the Supervisory Board and the General Meeting of Wirtualna Polska Holding SA to adopt by a General Meeting a resolution regarding:
• coverage of the net loss of the Company disclosed in the separate financial statements of the Company for the financial year 2020 in the amount of PLN 40,967,864.43 (in words: forty million nine hundred sixty seven thousand eight hundred sixty four 43/100) will be covered from the Company's profits from previous years
• allocating the amount of PLN 45,299,458.35 (in words: forty five million two hundred ninety nine thousand four hundred fifty eight 35/100) from the Company's profits from previous years for the payment of dividends to the Company's Shareholders in the amount of PLN 1.55 (one PLN 55/100) per one share, in the total amount of PLN 45,299,458.35 (forty five million two hundred ninety nine thousand four hundred fifty eight 35/100), the amount of dividend for each share will be rounded down to full grosze, while the difference between the amount indicated above, and the amount of dividend due to the shareholders, taking into account such rounding, will be added to the Company's supplementary capital.
In addition, the Management Board of the Company proposed the date of establishing the right to dividend on June 22, 2021 and the date of dividend payment on June 29, 2021.
The proposed profit distribution is in line 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 a dividend payment of more than PLN 1 per share, but not more than 70% of the consolidated net profit of the Capital Group Of the company disclosed in the financial statements for the given financial year. When recommending a dividend payment, the Management Board of the Company takes into account important factors, including in particular:
• the current financial situation of the Company's Capital Group,
• investment plans of the Company's Capital Group,
• potential acquisition targets of companies included in the Company's Capital Group,
• expected level of free cash in the Company in the financial year in which the dividend payment is due.
At the same time, the Management Board of the Company informs that on May 17, 2021, the Supervisory Board of the Company adopted a resolution according to which it gave a positive opinion on the above-mentioned motion of the Management Board.
The final decision regarding the coverage of the loss of the Company and the allocation of profits from previous years 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