Report no. 20/2020 - Resolution of the Ordinary General Meeting of Stalexport Autostrada Małopolska S.A. on apportionment of net profit for the turnover year 2019

With reference to current reports no. 5/2020 dated 21 February 2020 and no. 8/2020 dated 28 February 2020, the Management Board of Stalexport Autostrady S.A. with its registered office in Mysłowice (hereinafter: the Issuer) hereby informs that on 27 March 2020 the Ordinary General Meeting of Stalexport Autostrada Małopolska S.A. with its registered office in Mysłowice, (a subsidiary to the Issuer) adopted a resolution on apportionment of net profit for the turnover year 2019 as follows:

Resolution no. 8
of the Ordinary General Meeting of
STALEXPORT AUTOSTRADA MAŁOPOLSKA S.A
with its registered seat in Mysłowice
dated 27 March 2020

on distribution of net profit for the financial year 2019 and payment of the dividend

Acting pursuant to Art. 395 §  2 point 2 of Commercial Companies Code, the Ordinary General Meeting of the Company herewith decides to:

1) distribute net profit for the financial year 2019 of amount PLN 70,646,254.86 (say: seventy million six hundred forty six thousand two hundred fifty four zlotys eighty six groszy) as follows:

a) amount of PLN 3,523,998.25 (say: three million five hundred twenty three thousand nine hundred ninety eight zlotys twenty five groszy) to allocate to cover loss from previous years,

b) amount of PLN 455,367.60 (say: four hundred fifty five thousand three hundred sixty seven zlotys sixty groszy) to allocate to the supplementary capital,

c) amount of PLN 66,666,889.01 (say: sixty six million six hundred sixty six thousand eight hundred eighty nine zlotys one grosz) to allocate for payment of dividend to the shareholders of the Company.

2) pay the dividend to shareholder of the Company in total amount of PLN 131,160,889.01 (say: one hundred thirty one million one hundred sixty thousand eight hundred eighty nine zlotys one grosz) whereas the amount of the dividend is made up of:

a) amount of PLN 66,666,889.01 (say: sixty six million six hundred sixty six thousand eight hundred eighty nine zlotys one groszy), from net profit of the Company for the financial year 2019 allocated on the basis of point 1c above for payment of dividend,

b) amount of PLN 64,494,000.00 (say: sixty four million four hundred ninety four thousand zlotys zero groszy), from the amount transferred from reserve capital of the Company created from net profits under article 348 § 1 of the Commercial Companies Code.     

3)  authorise the Mangement Board of the Company to pay dividend. Payment of the dividend to the shareholder shall take place by 27 May 2020.       

Legal basis:

Article 17 (1) of European Parliament and of the Council of UE No. 596/2014 of 16 April 2014 on market abuse (Market Abuse Directive) and repealing directive 2003/6/WE of European Parliament and Council and Commission directives 2003/124/WE, 2003/125/WE and 2004/72/WE.