Subject:

Adoption by the Annual General Meeting of subsidiary Vercom S.A. of a resolution on the distribution of profit for the 2019 financial year and the buyback of own shares for cancellation

Legal basis:

Art. 17 sec. 1 MAR – inside information.

Content:

The Management Board of R22 S.A. with its registered office in Poznań (the “Company”) hereby announces that on 12.05.2020 the Annual General Meeting (“AGM”) of subsidiary Vercom S.A. (“Vercom”) was held.

The AGM of Vercom adopted, among other things, resolutions approving the financial statements and Management Board report for the financial year covering the period from 01.01.2019 to 31.12.2019, and a resolution on the distribution of net profit for the 2019 financial year in the amount of PLN 14,86 million, allocating PLN 10,33 million to a dividend for Vercom shareholders and PLN 4,53 million to supplementary capital.

The AGM of Vercom adopted a resolution on the payment and amount of the dividend totalling PLN 10.327.572,00, i.e. 69,5% of Vercom’s net profit for the 2019 financial year. The AGM of Vercom set the dividend payment date as 15.05.2020.

The Company currently holds 71,65% of Vercom shares; in connection with the resolutions adopted by the AGM of Vercom, the Company will receive a dividend of PLN 7 281 972,00.

Furthermore, the AGM of Vercom adopted a resolution on the buyback of 11.529 own shares of Vercom from R22 S.A. for consideration of PLN 382,47 per share, i.e. total consideration of PLN 4.409.496,63. Pursuant to the decision of the AGM of Vercom, the acquired own shares of Vercom will be cancelled without delay. As a result of the buyback and cancellation of Vercom’s own shares, the Company’s shareholding in Vercom will decrease from 71,65% to 70,51%.