Report 8/2022 recommendation of the Management Board regarding the level of dividend payment for 2021
The Management Board of STS Holding S.A. (the “Company”) informs that on May 25 this year the General Meeting of the Subsidiary, i.e. STS S.A., adopted a resolution on the payment of the remaining part of the net profit for 2021 in the amount of PLN 85,871,021.17 in the form of dividend for the sole shareholder – STS Holding S.A., which will take place by June 27, 2022. In connection with the above, the Management Board of the Company will decide to pay the shareholders of STS Holding S.A. an advance on dividends for 2022 after the publication and approval of the summary consolidated financial statements as on June 30, 2022.
The Management Board of the Company also explains that the amount of profit to be paid for the financial year 2021 in the amount of PLN 58,096,100.09 is the equivalent of the advance paid to the Company by STS S.A. against the dividend for 2021, i.e. PLN 67,454,043.94, less costs, including those related to IPO. Information on the payment of an advance by STS S.A. to the sole shareholder – STS Holding S.A. was included in Supplement No. 1 to the Offering Memorandum of November 24, 2021.
Therefore, the Management Board of STS Holding S.A. – bearing in mind the interests of the Company’s shareholders – on May 25, 2022, adopted a resolution concerning recommendation to the General Meeting of the distribution of net profit achieved by the Company for the financial year 2021 in the amount of PLN 58,096,100.09 in the following manner:
1) the amount of PLN 53,221,885.72 to be allocated to the payment of dividends for the Company’s shareholders;
2) the amount of PLN 4,874,214.37 to be allocated to the Company’s supplementary capital in accordance with the mandatory provisions of law;
The Management Board’s proposal was approved by the Supervisory Board of the Company at the meeting on May 26, 2022, however, the final decision regarding the distribution of profit for the year ended December 31, 2021, including the possible payment of the dividend and its amount, will be made by the Ordinary General Meeting of the Company.
Legal basis: Art. 17. sec. 1 of MAR – confidential information