To view the PDF file, sign up for a MySharenet subscription.

GLOBE TRADE CENTRE S.A. - Management Board proposal regarding dividend distribution and its positive assessment by the Supervisory Board

Release Date: 20/03/2017 07:05
Code(s): GTC     PDF:  
Wrap Text
Management Board proposal regarding dividend distribution and its positive assessment by the Supervisory Board

 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: 3/2017

Date: 17 March 2017

Subject: Management Board proposal regarding dividend distribution and its positive
assessment by the Supervisory Board

The Management Board of Globe Trade Centre S.A. (the “Company”) announces that on 17 March
2017 it adopted a resolution pursuant to which it will propose to the annual general meeting of the
shareholders of the Company (“AGM”) that a dividend in the amount of PLN 0.27 per share be
distributed to the shareholders of the Company from the net profit earned in the financial year ended
31 December 2016.

The Management Board will also propose that AGM approve a share capital increase by way of the
issuance, with the exclusion of the pre-emptive rights of the existing shareholders, of series L shares
with a nominal value of PLN 0.10, each to be offered solely to the Company’s shareholders of record
as of the dividend record date, which are “professional clients” (within the meaning of the Polish Act on
Trading in Financial Instruments dated 29 July 2005, as amended) (“Dividend Shares”). Such
shareholders will be able to elect to receive the amount of their respective dividend net of applicable
tax, (“Net Dividend”) in cash or receive Dividend Shares in lieu of cash, (by way of set off) in a number
calculated as Net Dividend divided by the issue price of the Dividend shares, as will be determined by
the shareholders.

On 17 March 2017, the Supervisory Board of the Company issued a positive opinion in respect of the
Management Board’s above proposal.

The payment of the dividend remains subject to the approval by the annual general meeting of the
shareholders of the Company.




Legal basis: § 38 section 1 sub-section 11 of the Regulation of the Council of Ministers of 19 February
2009 concerning the submission of periodic information by issuers of securities and the conditions for
recognising as equivalent the information demanded by the national lawful regulations of a country
which does not hold membership in the European Union.



Signed by:

/s/ Erez Boniel
Member of the Management Board
/s/ Thomas Kurzmann
President of the Management Board


Warsaw, Poland
Sponsor: Investec Bank Limited

Date: 20/03/2017 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story