The Management Board’s recommendation regarding the appropriation of profit for 2017

Tuesday, 22 May, 2018
16/2018

On 22 May 2018, the Management Board of KGHM Polska Miedź S.A. adopted a resolution in which it recommends that the Ordinary General Meeting of KGHM Polska Miedź S.A. adopts a resolution on appropriation of profit for financial year 2017, in the amount of PLN 1 323 766 788.38, by transferring the entirety of it to the Company’s reserve capital.

In developing its recommendation, the Management Board of KGHM Polska Miedź S.A. took into consideration mainly the current and forecasted financial condition of the KGHM Polska Miedź S.A. Group, with special consideration paid to the planned cash expenditures in Poland and the high debt level of the KGHM Polska Miedź S.A. Group.

The above recommendation of the Management Board was positively reviewed by the Supervisory Board of KGHM Polska Miedź S.A.

The final decision regarding the appropriation of KGHM Polska Miedź S.A.’s profit for financial year 2017 will be made by the Ordinary General Meeting of KGHM Polska Miedź S.A.

Legal basis: Art. 17 (1) of MAR (Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the European Union dated 12 June 2014, no. L 173/1)

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