Recommendation of the Management Board on dividend disbursement
Current Report No 9/2018
Legal basis: Article 17(1) of MAR – inside information
The Management Board of Medicalgorithmics S.A. (“Company”) announces that on 29 May 2018, in accordance with the published dividend payment policy (Current Report No 9/2017 of 29.05.2017), it adopted Resolution No 2/05/2018, pursuant to which it recommends that the Company’s Annual General Meeting:
1) adopt a resolution on the disbursement of a dividend amounting to 20% of Medicalgorithmics Group’s consolidated net income attributable to the shareholders of the parent entity for 2017, i.e. PLN 5,121,266.92 (PLN 1.42 per share) from the profit from previous years accumulated in the Company’s supplementary capital; and
2) to set the dividend day (date of dividend rights vesting) as 16 July 2018 and the dividend payment day as 30 July 2018.
At the same time, the Management Board of the Company recommends that the Company’s net loss for 2017 at the individual level, amounting to PLN 2,830,458.23, be covered in full from supplementary capital.
In developing its recommendation, the Management Board considered the financial situation of the Medicalgorithmics Group, which reported a profit at the consolidated level for 2017.
The motion of the Management Board is subject to approval by the Supervisory Board.
The final decision on the coverage of loss for the financial year 2017 and the payment of dividend shall be taken by the Annual General Meeting of the Company.