Current Report 6/2024
22/04/2024 • 13:05
Subject:
Management Board recommendation on distribution of profit for the 2023 financial year and recommendation that the Annual General Meeting approve a treasury share buyback
Legal basis:
Art. 17 sec. 1 MAR – inside information.
Content:
The Management Board of cyber_Folks spółka akcyjna [“Company”] announces that on 22 April 2024 it adopted a resolution concerning the Management Board’s proposals for distribution of the Company’s profit for the 2023 financial year and recommending that the Annual General Meeting adopt a resolution on the creation of reserve capital to finance the acquisition of the Company’s treasury shares, authorisation of the Company’s Management Board to acquire the Company’s treasury shares and appointment of an attorney authorised to represent the Company in transactions involving the acquisition of the Company’s treasury shares from shareholders who are also members of the Company’s Management Board [“Resolution”].
Pursuant to the Resolution, the Company’s Management Board proposes that the Company’s net profit for the 2023 financial year, in the total amount of PLN 28.028.096,29, be distributed as follows:
– PLN 21.252.702,00 to be allocated for payment of a dividend to the Company’s shareholders, with PLN 1,50 payable per share,
– PLN 6.775.394,29 to be allocated to the Company’s supplementary capital.
At the same time, the Company’s Management Board announces that on 22 April 2024 the Company’s Supervisory Board adopted a resolution assessing the Management Board’s proposals for distribution of the Company’s profit for the 2023 financial year, in which it positively assessed the Management Board’s proposals for distribution of the profit for the 2023 financial year. At the same time, the Company’s Management Board announces that, pursuant to the Resolution, the Management Board will convene the Company’s Annual General Meeting [“AGM”], to which it will present a draft resolution authorising the Management Board to conduct a treasury share buyback. The Company’s Management Board proposes allocating PLN 6.768.000,00 to the buyback of up to 48.000 treasury shares at a price not exceeding PLN 141,00 per share. The share buyback would run from the date of adoption of the resolution by the AGM until 30 September 2024. The buyback would be conducted by way of a public invitation or invitations to all Company shareholders to submit offers to sell shares.
In the opinion of the Management Board, the treasury share buyback is justified by the current market situation and the level of the Company’s share price.
The final decision on distribution of the Company’s net profit for the 2023 financial year and approval of the treasury share buyback will be made by the AGM.
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