Current reports
Current report no. 4/2015
Recommendation of the Management Board concerning the distribution of the net profit of ZE PAK S.A. for the financial year ended 31 December 2014
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 19 March 2015 the Company’s Management Board adopted a resolution on the distribution of the net profit for the financial year ended 31 December 2014.
The Management Board, according to current ZE PAK S.A. dividend policy, in adopted resolution proposed distribution of the net profit for 2014 in amount of PLN 204 642 447.41 in following way:
a) amount of PLN 40.658.837,60 allocate for a dividend for shareholders, which means that dividend per share is PLN 0.80,
b) remaining amount of PLN 163 983 609.81 allocate for the reserve capital.
Proposed dividend amount is equal to 19,87% of the net profit of the Company for the 2014 year.
Pursuant to Art. 382 § 3 of the Code of Commercial Companies, the Company's Management Board decided to submit to the Supervisory Board the application for distributing the profit for 2014 year in order to obtain a written opinion of the Supervisory Board on its evaluation, and to submit it to the Ordinary General Meeting.
The final decision on the distribution of the profit for the financial year 2014 will be made by the Ordinary General Meeting.
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