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Recommendation of the Supervisory Board regarding distribution of profits for 2022
GLOBE TRADE CENTRE S.A.
(Incorporated and registered in Poland with KRS No. 61500)
(Share code on the WSE: GTC.S.A)
(Share code on the JSE: GTC ISIN: PLGTC0000037)
(“GTC” or “the Company”)
Current report number: 7/2023
Date: 25 May 2023
Subject: Recommendation of the Supervisory Board regarding distribution of profits for 2022
The Management Board of Globe Trade Centre S.A. (the “Company” or “GTC”) informs that on 24 May
2023, the Supervisory Board of the Company, following the recommendation of the Management Board
hereby issued a positive opinion on the Management Board's proposal to deviate from published
dividend policy (dated 20 March 2017) and keep the profit for 2022 in the Company and transferred in
full to the supplementary capital.
The amount of profit shown in the Company's financial statements for the financial year ending 31
December 2022 allocated to the supplementary fund will be available to finance capital expenditures
and investments that may provide measurable benefits to the shareholders. In particular, apart from
deploying the funds for the purposes of development of existing projects in its pipeline and acquisition
of new projects, the Company may be required to make certain capital expenditures in order to maintain
or increase the standard of some of the properties in its real estate portfolio, in particular in light of
increasing expectations of the tenants in respect of environmental (ESG) requirements.
Additionally, the Management Board of the Company may, if it deems such appropriate, use the amount
of the profit shown in the Company's financial statements for the financial year ending 31 December
2022 (all or part thereof) to finance the execution of the programme regarding the buy-back of the shares
of the Company, provided that the relevant resolution of the general meeting of the shareholders of the
Company authorising the Management Board to execute such programme is adopted, if and to the
extent the Management Board decides to implement such buy-back programme.
The final decision regarding the payment of dividends for the year ended 31 December 2022 will be
made by the general meeting of the Company.
Legal basis: Art. 17 (1) of the Regulation of the European Parliament and Council (EU) No. 596/2014
on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European
Parliament and Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (inside
information).
Signed by:
/s/ Zoltan Fekete /s/ Barbara Sikora
Member of the Management Board Member of the Management Board
Warsaw, Poland
Sponsor: Investec Bank Limited
Date: 25-05-2023 07:50:00
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