Current Report No.: 11/2023
The Management Board of Boryszew S.A. (“Company”, “Issuer”) advises that on 18 April 2023 it adopted a resolution on submitting to the next General Meeting of Boryszew S.A. a motion to pay a dividend in the amount of PLN 0.74 per share entitled to dividend, or in the total amount of PLN 151 851 700, from the Company’s supplementary capital, which, according to the provisions of art. 348 § 1 of the Commercial Companies Code may be assigned for distribution.
In view of the foregoing, the Management Boar of the Issued intends to apply for approvals from the financing banks under the terms of certain loan agreements to pay dividends in the amount referred to above.
The Issuer advises that the Company secured funds to pay dividends, in particular from the early redemption and repayment of financial assets held by the Company and the sale of an investment property in the Group.
The Management Board believes that the Company has the means to pay dividends in an amount greater than that specified in the Company’s dividend policy published in current report No. 21/2022 on 9 May 2022, and furthermore, the payment of dividends in the amount proposed by the Management Board will not jeopardize the achievement of the Group’s goals in the BCG Strategy for 2022 – 2026. The deviation from the adopted policy is a one-time occurrence.
At the same time, the Issuer advises that under art. 364 § 2 of the Commercial Companies Code, the Company does not exercise participation rights from own shares, except for the right to sell them or perform actions aiming at preservation of these rights. The Company’s own shares are not eligible for dividends. On the date of publication of this current report, the Company holds 34 795 000 own shares.
The Management Board’s recommendation on the payment of dividends will also be reviewed by the Company’s Supervisory Board.
The final decision on the dividend payment will be made by the General Meeting of Boryszew S.A.
Legal attitude: Article 17 section 1 MAR – Confidential information.
Signatures:
Wojciech Kowalczyk – President of the Management Board
Translation from the original Polish version.
In the event of differences resulting from the translation, reference should be made to the official Polish version.