Current report no. [5/2017]
Date of report: 28.03.2017
Abbreviated name of the Issuer: CIECH S.A.
Subject: Recommendation of the Management Board of CIECH S.A. concerning the allocation of profit for 2016
Legal basis: Art. 56 section 1 point 2 of the Act on Offering – current and periodic information
Contents of the report:
The Management Board of CIECH S.A. ("the Company" or "the Issuer") announces that on 20 March 2017 it adopted a resolution regarding a recommendation of distribution of the net profit achieved by the Company in 2016, where it recommends to the Ordinary Shareholders' Meeting of the Issuer to allocate the whole net profit of the Company for 2016, amounting to PLN 152,439,960.97 (one hundred and fifty-two million four hundred and thirty-nine thousand nine hundred and sixty and 97/100 Polish Zlotys) to the supplementary capital of the Company.
At the same time, the Management Board of CIECH S.A. announces that it intends to apply to the Supervisory Board of the Company for recommending to the Ordinary Shareholders' Meeting of the Company to allocate the profit for 2016 according to this recommendation of the Management Board of the Issuer.
Legal basis: Art. 56 section 1 point 2) of the Act on Public Offering and Terms and Conditions of Trade of Financial Instruments in an Organized Trading System, as well as on Public Companies ("Act on Public Offering") and § 38 section 1 point 11) of the Regulation of the Minister of Finance of 19 February 2009 regarding current and periodic information delivered by issuers of securities and on conditions of recognition of information required under non-member state law regulations as equivalent ("Regulation").
Signatures of persons representing the Company:
Maciej Tybura – President of the Management Board
Artur Osuchowski – Member of the Management Board
