Legal basis: Article 17 sect. 1 of the MAR - Confidential information.
Management Board of VRG S.A. with its registered office in Kraków, announces the adoption on May 20, 2022 of a resolution on the adoption of the Management Board's motion to the Annual General Meeting of the Company on the method of covering the Company's net loss for the financial year 2021 and on the distribution of the Company's profits from previous years from the supplementary capital.ą
The above conclusion contains the following suggestions:
1) a proposal to cover the net loss disclosed in the financial statements of the Company for the financial year 2021 in the amount of PLN 132,410.20 entirely from the Company's supplementary capital;
2) a proposal to allocate an amount of PLN 39,857,492.80 for the payment of dividends to the Company's Shareholders from the amounts transferred from the supplementary capital (in the part created from profits - Article 348 § 1 of the Commercial Companies Code).
The proposal to cover the net loss shown in the financial statements of the Company, referred to in point 1) above is the fulfillment of the requirements of Art. 395 § 2 point 2) in connection with art. 396 of the Commercial Companies Code.
The dividend payment proposal for the Company's Shareholders, referred to in point 2) above is the implementation of the assumptions of the Company's Dividend Policy adopted by the Management Board on May 18, 2022, about which the Company informed in the current report No. 18/2022.
At the same time, the Management Board informs that the Supervisory Board of the Company, at its meeting on May 20, 2022, adopted a resolution on the basis of which it positively assessed the above-mentioned request of the Management Board.