Legal Basis: Article 56 Section 1 Item 2 of the Act on Offerings – current and periodic information
Body of the Report:
The Management Board of Jastrzębska Spółka Węglowa S.A. (“Company”, “JSW”) hereby informs that on 26 March 2013 it adopted a resolution on the distribution of net profit of Jastrzębska Spółka Węglowa S.A. for the financial year ended 31 December 2012.
According to the above resolution, the Management Board of JSW S.A. proposes to distribute JSW’s net profit of PLN 995,946,834.21 generated in 2012, as follows:
1. distribute PLN 295,877,221.92 as a dividend to the Company’s shareholders, which means that the dividend will be PLN 2.52 per share;
2. distribute PLN 185,999,753.00 as a cover of net loss revealed in ‘Other total incomes’;
3. transfer the remaining amount of PLN 514.069.859,29 to reserve capital for the purposes of financing the Company’s investment program.
Furthermore, the Management Board of Jastrzębska Spółka Węglowa S.A. recommends to establish:
- the date of 31 July 2013 as the date of the rights to the dividend,
- the date of 20 August 2013 as the date of payment of the dividend.
Pursuant to Article 382 § 3 of the Commercial Companies Code and § 20 Section 2 Item 8 of the Company’s Articles of Association, the Management Board will submit the above proposal to the Company’s Supervisory Board for evaluation.
The final decision on the distribution of profit for the financial year 2012, establishment the date of the rights to the dividend and the date of its payment will be made by the Company’s Ordinary Shareholder Meeting.
Legal Basis:
Article 38 Section 1 Item 11 of the Regulation issued by the Finance Minister on 19 February 2009 on the Current and Periodic Information Transmitted by Securities Issuers and the Conditions for Recognizing the Information Required by the Regulations of a Non-Member State as Equivalent.