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Current Report No.: 17/2021

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Assessment of the application of the Management Board of CIECH S.A. regarding allocation of profit for 2020 and payment of dividend

Current Report No.: 17/2021

Date of preparation: 20.05.2021

Abbreviated name of the Issuer: CIECH S.A.

Subject: Assessment of the application of the Management Board of CIECH S.A. regarding allocation of profit for 2020 and payment of dividend

Legal basis: Art. 17.1 of the MAR – inside information


Report: 

The Management Board of CIECH S.A. (the "Issuer" or “Company”) herewith informs that on 20 May 2021, the Supervisory Board of the Company, upon review of the application by the Management Board of the Company to be proposed at the Annual General Meeting, as expressed in Resolution of the Management Board of CIECH S.A. of 18 May 2021, on the allocation of the net profit generated by the Company in 2020 and payment of dividend, adopted a resolution with the following recommendations to the Annual General Meeting:

  1. to allocate the net profit generated by the Company in 2020, in the amount of PLN 155 287 361,59 to the payment of dividend,
  2. to transfer the amount of PLN 2 812 365,41 from the reserve capitals created from profits, in order to allocate it to the payment of dividend,
  3. to distribute dividend in the amount of PLN 158 099 727,00, i.e. PLN 3.00 per share from the net profit of the Company for 2020, increased by the amount transferred from the reserve capital created from profits.

The Issuer published information on the approval by the Management Board of the Issuer of a resolution on the proposal of the allocation of the net profit of the Issuer for the financial year 2020 and payment of divided in its current report no. 15/2021 of 18.05.2021.

At the same time, the Company informs that the final decision on the allocation of the net profit for 2020 and payment of dividend will be made by the Annual General Meeting of CIECH S.A

Legal basis: Article 17.1 of the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of 16 April 2014 on Market Abuse (the Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the European Union L No. 173, p. 1).

Signatures of individuals representing the company:

  1. Dawid Jakubowicz – President of the Management Board
  2. Jarosław Romanowski – Member of the Management Board
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