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    PZU   PLPZU0000011

POWSZECHNY ZAKLAD UBEZPIECZEN SA

(PZU)
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Powszechny Zaklad Ubezpieczen : PZU SA Supervisory Board's evaluation of the PZU SA Management Board's recommendation pertaining to profit distribution for 2019

04/30/2020 | 01:48pm EST

Date of preparation:

28 April 2020

Issuer's abbreviated name:

PZU SA

Current Report No. 14/2020

Subject:

PZU SA Supervisory Board's evaluation of the PZU SA

Management Board's recommendation pertaining to profit

distribution for 2019

Legal basis:

Article 17(1) of MAR - inside information

Body of the report:

In reference to current report no. 13/2020 of 21 April 2020 pertaining to the recommendation made by the Management Board of Powszechny Zakład Ubezpieczeń Spółka Akcyjna ("PZU SA", "Company"), the PZU SA Management Board hereby reports that according to § 25 section 2 item 2 of the Company's Articles of Association on 28 April 2020 the Company's Supervisory Board positively evaluated the Company's Management Board's motion to PZU SA's Ordinary Shareholder Meeting ("OSM") on the distribution of PZU SA's net profit for the year ended 31 December 2019 and it has recommended to the OSM that it distribute the profit totaling PLN 2,651,012,097.38 (say: two billion six hundred fifty-one million twelve thousand ninety-seven zloty and 38 grosz) as follows:

  1. allocate PLN 7,273,000.00 (say: seven million two hundred seventy-three thousand Polish zloty and 00 grosz) to the Company Social Benefit Fund (ZFŚS);
  2. earmark PLN 2,643,739,097.38 (say: two billion six hundred forty-three million seven hundred thirty-nine thousand ninety-seven Polish zloty and 38 grosz) to supplementary capital.

The Company's Ordinary Shareholder Meeting will make the final decision concerning the distribution of PZU SA's net profit for the 2019 financial year in accordance with Article 395 § 2 item 2 of the Commercial Company Code and § 18 item 2 of PZU SA's Articles of Association.

Legal basis: Article 17(1) of the Market Abuse Regulation - inside information.

Disclaimer

PZU - Powszechny Zaklad Ubezpieczen SA published this content on 28 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2020 17:48:00 UTC


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