Recommendation on dividend payment and dividend policy

Report: 12/2023
Date of publication:20.04.2023 / 20:16
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The Management Board of UNIMOT S.A. with its registered office in Zawadzkie (the “Issuer”) announces that, having analysed the Issuer’s financial situation, on 20 April 2023 it took the decision to recommend to the Issuer’s Ordinary General Meeting (the “OGM”) the allocation of the Issuer’s net profit for 2022 in the amount of PLN 117,286,744.41 as follows:

a) profit in the amount of PLN 112 228 128,42 allocate for dividend payment for Issuer’s shareholders, i.e. the amount of PLN 13, 69 per share,
b) profit in the amount of PLN 5 058 615,99 allocate for Issuer’s spare capital.

In addition, the Issuer’s Supervisory Board, at the meeting on 20 April 2023, approved the Issuer Management Board’s motion on allocation of the aforementioned net profit.

At the same time, the Issuer announces that the Management Board’s recommendation regarding the allocation of the Issuer’s net profit achieved in 2022 is in line with the dividend policy adapted to the Group’s new organisational and capital structure.

The policy defines a long-term target for the minimum level of dividends, which will be calculated on the basis of the consolidated results achieved, and not on the basis of the individual results. This is related to the organisational changes in the UNIMOT Group that have been in force since 1 August 2022, i.e. the transfer of part of the UNIMOT enterprise to the wholly-owned subsidiary UNIMOT Paliwa sp. z o.o., and thus the structure of profit generation by individual Group entities has changed.

Accordingly, the Management Board of UNIMOT S.A. acknowledged that in the event of achieving a consolidated net profit in a given financial year, the Company’s Management Board will recommend to the General Ordinary Meeting of the Company the payment of a dividend in such an amount that it constitutes a minimum of 30% of the consolidated net profit, with the proviso that the recommendation of the Management Board will depend each time on the operational and financial situation of the UNIMOT Group, including:

the liquidity situation,
anticipated capital expenditure,
costs and possibilities of obtaining financing,
terms and clauses of financial agreements,
legal requirements and internal regulations of the Company.

The abovementioned dividend policy is effective from the allocation of profit for the financial year ended 31 December 2022.

The final decisions on the allocation of profit for the 2022 financial year and the determination of the dates of the dividend day and the dividend payment date will be taken by the OGM.