Resolutions of the Management Board and the Supervisory Board of CCC S.A. on the recommendation concerning the coverage of loss for 2018 and the payment of dividend
(Current Report No. 27/2019)
09.05.2019 /Issuer/
Legal basis:
Article 17(1) MAR - confidential information
The Management Board of CCC S.A. hereby informs that on 9 May 2019 they adopted a resolution on submitting to the General Meeting of Shareholders a recommendation on covering the loss for 2018 in the amount of 40 365 817,81 (in words: forty million three hundred sixty-five thousand eight hundred and seventeen zlotys 81/100) from the supplementary capital.
At the same time, on 9 May 2019, the Management Board adopted a resolution on submitting a recommendation to the General Meeting of Shareholders to allocate a portion of the supplementary capital (created from profit that may be distributed) in the amount of PLN 19,760,640.00 (in words: nineteen million, seven hundred and sixty thousand, six hundred and forty zlotys) for distribution to shareholders through payment of a dividend. The total amount of the dividend recommended by the Management Board for distribution to shareholders is PLN 19,760,640.00 (say: nineteen million seven hundred and sixty thousand six hundred and forty zlotys) and constitutes 33% of the consolidated net profit of the CCC Capital Group attributable to the shareholders of the parent company. The proposed dividend per share is PLN 0.48.
The above recommendation is consistent with the one adopted by CCC S.A. Dividend Policy, in accordance with which the Management Board of CCC S.A. - after analysing, among others, the financial and liquidity situation of the CCC Capital Group, existing and future liabilities and the assessment of the prospects of the CCC Capital Group - provided that certain financial ratios are met - intends to submit to the General Meeting of Shareholders a proposal for payment of dividend in the amount of 33% to 66% of the consolidated net profit of the CCC Capital Group attributable to the shareholders of the parent company.
The Company's Management Board recommended setting the dividend day (day D) as 17 September 2019 and the payout date (day P) as 1 October 2019.
Furthermore, on 9 May 2019, the Supervisory Board adopted a resolution on the positive assessment of the Management Board's motion to cover the loss as well as the payment of the dividend in the amount of PLN 0.48 per share and the setting of the dividend day (day D) on 17 September 2019 and the dividend payment date (day P) as 1 October 2019.
The Supervisory Board's assessment together with the Management Board's motion will be submitted to the General Meeting of Shareholders.