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Current Report No. 4/2013

Assessment by the JSW S.A. Supervisory Board of the JSW S.A. Management Board’s motion on the distribution of net profit of JSW S.A. for the financial year ended 31 December 2012

 

Legal Basis: Article 56 Section 1 Item 2 of the Act on Offerings – current and periodic information

Body of the Report:

The Management Board of Jastrzębska Spółka Węglowa S.A. (“Company”, “JSW”) hereby informs that on 8 April 2013 the Company’s Supervisory Board adopted a resolution on its assessment, for the JSW S.A. Shareholder Meeting, of the JSW S.A. Management Board’s motion on the distribution of the Company’s net profit for the financial year ended 31 December 2012, as announced by the Company in Current Report No. 3/2013. According to the said resolution, the Company’s Supervisory Board:

1.    Issues a positive assessment of the following manner of distribution of the Company’s net profit for the financial year ended 31 December 2012, in the amount of PLN 995,946,834.21:

a)  distribute PLN 295,877,221.92 to the Company’s shareholders as a dividend, which means that the dividend will be PLN 2.52 per share;

b)  distribute PLN 185,999,753.00 as a cover of  net loss revealed in ‘Other total incomes’

c)  transfer the remaining amount of PLN 514,069,859.29 to reserve capital for the purposes of financing the Company’s investment program.

2.    Furthermore, the Company’s Supervisory Board issues a positive opinion on proposed by the Company’s Management Board:

-        the dividend date of 31 July 2013,

-        the date of payment of the dividend 20 August 2013.

 The final decision on the distribution of net profit for the financial year 2012, establishment the date of the rights to the dividend and the date of its payment  will be made by the Company’s Ordinary Shareholder Meeting.

Legal Basis:

§ 38 Section 1 Item 11 of the Regulation issued by the Finance Minister on 19 February 2009 on the Current and Periodic Information Transmitted by Securities Issuers and the Conditions for Recognizing the Information Required by the Regulations of a Non-Member State as Equivalent.

 

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