The recommendation concerning the allocation of profit for 2017

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 [Dziennik Ustaw] of 2014 item 133).
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 2017 to reserve capital.
According to the Company’s Board of Directors, the allocation of the entire net profit for the financial year 2017 to the Company’s reserve capital is consistent with the current strategy of Pepees Group aiming at building long-term shareholder value by reinvesting profit in further development of the Company and its group.
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 2017 will be taken by the Annual General Meeting of Shareholders.
SIGNATURES OF THE COMPANY’S REPRESENTATIVES
Date         Name and surname         Position/Function             Signature
2018-04-13     Wojciech Faszczewski     President of the Board of Directors
2018-04-13     Tomasz Rogala         Member of the Board of Directors