Current reports
Current report no. 17/2013
Assessment by the Supervisory Board of the position of the Board of Directors of the Company concerning proposal of profit distribution for the financial year 2012
Legal basis:
Art. 56 section 1 point 2 of the Public Offering Act - Current and periodic information
Art. 56 section 1 point 1 of the Public Offering Act - Confidential information
Contents of the report:
Zespół Elektrowni "Pątnów-Adamów-Konin" S.A. ("the Company") informs that on 7 May 2013 a meeting of the Supervisory Board of the Company was held, whose agenda covered an item concerning the Supervisory Board's considering the position of the Board of Directors of the Company with regard to proposal of profit distribution for the year 2012. After an additional analysis of the current situation on the electricity market, in particular persistent decrease in selling prices of energy, in the course of the meeting of the Supervisory Board, the Company’s Board of Directors finally adopted the decision on presenting to the Supervisory Board for assessment an application of the Board of Directors containing a proposal of the intended allocation of 20% of net profit for 2012 for payment of dividend and allocation of the remaining part of profit for supplementary capital of the Company. The Supervisory Board, having examined the issue, adopted a resolution in which it expressed a positive opinion on the above mentioned application of the Board of Directors.
In connection with the above, the Board of Directors, during the session of the Ordinary General Meeting of the Company, will recommend to the shareholders adoption of a resolution of payment of dividend in the amount of 20% of net profit for 2012. The final decision on distribution of the Company's profit for 2012, including on payment of dividend and its amount, rests with the General Meeting of the Company.
Legal Basis: § 38 Section 1 Item 11 of the Regulation issued by the Finance Minister on 19 February 2009 on the Current and Periodic Information Transmitted by Securities Issuers and the Conditions for Recognizing the Information Required by the Regulations of a Non-Member State as Equivalent.
Signatures of persons representing the company:
Katarzyna Muszkat – President of the Management Board
Anna Striżyk – Vice President of the Management Board