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The recommendation concerning the allocation of profit for 2016

Current report No. 3/2017

Legal basis: Article 56 Clause 1 item 2 of the Offering Act – current and periodic information

 

The Board of Directors of Przedsiębiorstwo Przemysłu Spożywczego “PEPEES” S.A. (the “Company”) hereby informs that they have decided to recommend to the Annual General Meeting of Shareholders that they should allocate the entire net profit generated in 2016 to reserve capital. According to the Company’s Board of Directors, the allocation of the entire net profit for the financial year 2016 to the Company’s reserve capital is consistent with the Company’s long-term interests and the current strategy of Pepees Group aiming at building long-term shareholder value by reinvesting profit in accordance with the Company’s strategy. In accordance with Article 382 § 3 of the Polish Code of Commercial Companies, the Company’s Supervisory Board approved of the Board of Directors’ recommendation. The final decision concerning the distribution of the profit for the financial year 2016 will be taken by the Annual General Meeting of Shareholders. Legal basis: Article 38 Clause 1 item 11 of the Decree of the Polish Minister of Finance dated 19 February 2009 on current and periodic information to be provided by issuers of securities and conditions for recognising as equivalent the information required by the provisions of law of a country not being a member state (i.e. Journal of Laws of 2004 item 133). Signatures of the Company’s representatives President of the Board of Directors  Wojciech Faszczewski 2017-03-29 Member of the Board of Directors  Tomasz Rogala 2017-03-29

Mon 03, April 2017 by: Szymon Janucik