The Management Board of Inter Cars S.A. (the “Company”) announces that on May 5th 2020 it passed a resolution to approve the Management Board’s proposal on the distribution of profit for 2019, in which the Management Board recommends that the entire net profit generated in 2019, i.e. PLN 154,974,364.54 (one hundred and fifty-four million, nine hundred and seventy-four thousand, three hundred and sixty-four złoty, 54/000) be allocated to statutory reserve funds.
The proposal is a departure from the Company’s dividend policy for 2017-2019, adopted and announced by the Management Board on May 9th 2017. The reason for the departure is the economic uncertainty brought by the SARS-CoV-2 pandemic. Detailed information about the impact of the SARS-CoV-2 pandemic on operations, revenues and financial performance of the Inter Cars Group was published by the Management Board in Current Report No. 6/2020 of March 24th 2020.
Legal basis:
Article 17(1) of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (MAR) – inside information.
Article 17(1) of MAR − Inside information
- Krzysztof Soszyński - Vice President of the Management Board
- Piotr Zamora - Member of the Management Board