Legal basis: Article 17 par. 1 MAR - confidential information.
Subject: Proposal of the Management Board of VRG S.A. to the Ordinary General Meeting on the distribution of the Company's net profit for the financial year 2022 and the payment of dividend
Management Board of VRG S.A. with its registered office in Krakow (the "Company") informs about the adoption of a resolution on May 30, 2023 on accepting the motion of the Management Board of VRG S.A. in Krakow to the Ordinary General Meeting of the Company on the method of distribution of the Company's net profit for the financial year 2022 and the payment of dividends.
The above proposal contains the following proposals:
1) a proposal to allocate the net profit shown in the Company's financial statements for the financial year 2022 in the amount of PLN 48,358,808.32 in full to supplementary capital;
2) a proposal to pay a dividend of PLN 0.20 per share, i.e. in the total amount of PLN 46,891,168.00 from supplementary capital (in the part created from profits - Article 348 § 1 of the Code of Commercial Companies).
At the same time, in the application in question, the Management Board requests the Ordinary General Meeting of the Company to determine that the Company's shareholders will be entitled to dividend as at September 20, 2023 (dividend day), and the dividend will be paid on December 15, 2023. The dividend will cover 234,455,840 shares of the Company.
The proposal for the distribution of the net profit shown in the Company's financial statements for 2022, referred to in point 1) above meets the requirements of Art. 395 § 2 point 2) in connection with Art. 396 of the Code of Commercial Companies.
The proposal to pay dividends to the Company's Shareholders, referred to in point 2) above constitutes the implementation of the Company's Dividend Policy adopted by the Management Board on May 18, 2022, about which the Company informed in 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 30, 2023, adopted a resolution based on which it made a positive assessment of the above proposal of the Management Board.