GLOBE TRADE CENTER SA – Suggestion of the Supervisory Board on the non-payment of dividends for 2020 – SENS
Suggestion of the Supervisory Board relating to the non-payment of dividends for yr 2020
GLOBE TRADE CENTRE S.A.
(Integrated and registered in Poland with KRS No. 61500)
(Share code on the WSE: GTC.S.A)
(Share code on the JSE: GTC ISIN: PLGTC0000037)
(“GTC” or “the Firm”)
Present report quantity: 3/2021
Date: 23 March 2021
Topic: Suggestion of the Supervisory Board relating to the non-payment of dividends
for yr 2020
The Administration Board of Globe Commerce Centre S.A. (“the Firm”) stories that on 22 March 2021
the Supervisory Board of the Firm, following the advice of the Administration Board hereby
issued a optimistic opinion on the Administration Board’s proposal to deviate from printed dividend coverage
(dividend coverage printed on 20 March 2017) and to not pay the dividend.
The Administration Board advice is predicated on the persevering with uncertainty relating to
penalties of the outbreak of the coronavirus (COVID-19) pandemic and intentions of the
Administration Board relating to the expansion of the Firm by way of the acquisitions and improvement.
This advice is issued regardless of good working efficiency achieved by the Firm as
measured by the FFO (funds from operations) within the monetary yr ended 31 December 2020 and the
wholesome monetary and liquidity positions. The Administration Board believes that it's within the curiosity of the
Firm and its shareholders to retain money on the Firm, which is able to enable the Firm to keep up
a powerful capital and money place to permit forestall any potential Covid-19 impression in addition to enable for
future progress by way of acquisitions and improvement.
The ultimate resolution relating to the fee of dividends for the yr ended 31 December 2020 will probably be
made by the overall assembly of the Firm.
Authorized grounds: Artwork. 17(1) of Regulation (EU) No. 596/2014 of the European Parliament and of the
Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC
of the European Parliament and of the Council and Fee Directives 2003/124/EC, 2003/125/EC
and 2004/72/EC – inside data.
/s/ Yovav Carmi /s/ Ariel Alejandro Ferstman
Member of the Administration Board Member of the Administration Board
Sponsor: Investec Financial institution Restricted
Date: 23-03-2021 11:30:00
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