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Current Report No. 9/2018

  Investors Relations Dividend

Suspension of the dividend policy’s application to 2017

Body of the report:

The Management Board of Jastrzębska Spółka Węglowa S.A. (“Company”, “JSW”) reports that on 12 March 2018 it made the decision to suspend the application of JSW’s dividend policy in terms of allocating the financial results for the financial year ended 31 December 2017.

In accordance with the dividend policy applied by the Company, in 2018 the Company’s Management Board should recommend to the JSW Shareholder Meeting the payment of a dividend of at least 30% of the consolidated net profit for 2017.

Having regard for the clauses in the Bondholder Agreement, which the Company reported in current report no. 45/2016 and the necessity to rebuild the supplementary capital depleted in previous years, the Company’s Management Board will not recommend the payment of a dividend to the JSW Shareholder Meeting for the financial year ended 31 December 2017. 

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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