RB 21/2019: Proposed distribution of the Company’s net profit for year 2018


RB: 21/2019
Date: 21 May 2019
Proposed distribution of the Company’s net profit for year 2018
Legal basis: Article 17 Sec. 1 MAR - inside information

Text of the report:

The Management Board of Benefit Systems S.A. with its registered seat in Warsaw (the, “Company") hereby announces that on 21 May, 2019, adopted resolution concerning:

(i) a proposal to the Ordinary General Meeting regarding appropriation of the entire profit reported in the financial statements of the Company for year 2018, in the amount of PLN 145 994 922.60 (say: one hundred forty-five million nine hundred ninety-four thousand nine hundred twenty-two 60/100) in full for the supplementary capital of the Company;

(ii) and to recommend it to the Ordinary General Meeting to appropriate the sum of PLN 57 000 000.00 (say: fifty seven million), which accounts for 50% of the net profit of the Capital Group of the Company attributable to the parent company for year 2018 for buy-back of shares of the Company.

The said recommendation conforms to the Distribution of Profit to Shareholders Policy for years 2016 - 2019 (as announced in current report No. 3/2016, on 10 February, 2016) with only one difference; namely that net profit of the Capital Group of the Company rather than net profit of the Company should be taken into account. The foregoing follows from the fact that consolidated net profit more precisely reflects the financial results of the Capital Group of the Company.

Concurrently, the Management Board also announces that on 21 May, 2019, the Supervisory Board of the Company issued a positive opinion on the above-mentioned motion of the Management Board of the Company concerning distribution of profit of the Company for year 2018.

The final decision concerning distribution of profit generated by the Company in 2018 will be adopted by the Ordinary General Meeting of the Company.

 

DateFirst name and surnamePosition/Function
2019-05-21Izabela Walczewska-SchneyderMember of the Management Board
2019-05-21Emilia RogalewiczMember of the Management Board

 

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