On 17 April 2019, 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 the year ended 31 December 2018, in the amount of PLN 2 025 005 484.23 by transferring the entirety of it to the Company’s reserve capital.
The recommendation of the Management Board of KGHM Polska Miedź S.A. results from an assessment of the current financial possibilities of the Company, and takes into consideration the program of investments being implemented as set forth in the updated Strategy of KGHM Polska Miedź S.A. for the years 2019-2023. The proposal of the Management Board of KGHM Polska Miedź S.A. is compliant with the existing Dividend Policy of KGHM Polska Miedź S.A., which provides for a balance to be maintained between the level of dividends paid out and opportunities to effectively invest the Company’s funds given the current level of debt 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 the year ended 31 December 2018 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)