6/2012
6/2012
Resolution of the Supervisory Board of Lubelski Węgiel Bogdanka S.A. on assessment of the Management Board’s motion regarding the distribution of net profit for 2011
Current Report No. 6/2012
Date of preparation: 26 March 2012
Subject: Resolution of the Supervisory Board of Lubelski Węgiel Bogdanka S.A. on assessment of the Management Board’s motion regarding the distribution of net profit for 2011
Legal Basis: Article 56.1.1 of the Act on Public Offering – confidential information
Content:
The Management Board of LW Bogdanka S.A. (Company) hereby announces that on 26 March 2012, The Supervisory Board positively assessed the Management Board’s motion to the Annual General Shareholders Meeting regarding the distribution of net profit for 2011.
According to this proposal, the Management Board, having due consideration for the Company’s financial needs required for its development, execution of the adopted investment plan as well as the necessity to maintain a proper level of the enterprise’s liquidity, has proposed that the net profit generated by the Company in 2011, amounting toPLN 218,977,735.69 (two hundred eighteen million nine hundred seventy-seven thousand seven hundred and thirty-five zlotys 69/100) be distributed as follows:
1) PLN 68,027,180.00 (sixty-eight million twenty-seven thousand one hundred and eighty zlotys) – allocate for the shareholders, i.e. to pay a dividend of PLN 2.00 per share;
2) the remainder, i.e. PLN 150,950,555.69 (one hundred fifty million nine hundred fifty thousand five hundred and fifty-five zlotys 69/100) – allocate for the Company’s reserve capital.
A final decision regarding distribution of 2011 profit will be made by the Annual General Shareholders Meeting of Lubelski Węgiel BOGDANKA S.A.
Legal Basis: Article 56.1 of the Act on public offering and conditions governing the introduction of financial instruments to organised trading and public companies of 29 July 2005 (uniform text, Dz. U. of 2009, No. 185, item 1439).
Date of preparation: 26 March 2012
Subject: Resolution of the Supervisory Board of Lubelski Węgiel Bogdanka S.A. on assessment of the Management Board’s motion regarding the distribution of net profit for 2011
Legal Basis: Article 56.1.1 of the Act on Public Offering – confidential information
Content:
The Management Board of LW Bogdanka S.A. (Company) hereby announces that on 26 March 2012, The Supervisory Board positively assessed the Management Board’s motion to the Annual General Shareholders Meeting regarding the distribution of net profit for 2011.
According to this proposal, the Management Board, having due consideration for the Company’s financial needs required for its development, execution of the adopted investment plan as well as the necessity to maintain a proper level of the enterprise’s liquidity, has proposed that the net profit generated by the Company in 2011, amounting toPLN 218,977,735.69 (two hundred eighteen million nine hundred seventy-seven thousand seven hundred and thirty-five zlotys 69/100) be distributed as follows:
1) PLN 68,027,180.00 (sixty-eight million twenty-seven thousand one hundred and eighty zlotys) – allocate for the shareholders, i.e. to pay a dividend of PLN 2.00 per share;
2) the remainder, i.e. PLN 150,950,555.69 (one hundred fifty million nine hundred fifty thousand five hundred and fifty-five zlotys 69/100) – allocate for the Company’s reserve capital.
A final decision regarding distribution of 2011 profit will be made by the Annual General Shareholders Meeting of Lubelski Węgiel BOGDANKA S.A.
Legal Basis: Article 56.1 of the Act on public offering and conditions governing the introduction of financial instruments to organised trading and public companies of 29 July 2005 (uniform text, Dz. U. of 2009, No. 185, item 1439).