The overriding business objective of PEManagers Group is to maximise the Issuer’s shareholder value by maximizing the profit from the management of investment fund assets.
The goal of the Company is to share the Company’s profit with shareholders by means of annual dividend payments, the amounts of which depend on the below-described factors, and are subject to approval by the Ordinary General Meeting.
Recommending the distribution of the Company’s profits for the fiscal years starting in the fiscal year ended in 2014, the Management Board will submit to the OGM proposals for dividend payments from the Issuer’s annual net profit at the level of 50% to 100% of the consolidated net profit of PEManagers Group for the fiscal year concerned, however no more than the Company’s net profit per share.
Furthermore, recommending the profit distribution for 2014, the Management Board will recommend that the OGM set the record date (i.e. the day on which the list of shareholders entitled to dividend for the year concerned is established) on the day immediately following the admission of PEManagers shares to trading on the regulated market of the Warsaw Stock Exchange, however no later than 60 days after, provided that PEManagers shares are admitted to trading on the regulated market of the Warsaw Stock Exchange at such a time that it will be possible for OGM to adopt a resolution on profit distribution for FY 2014 before 30 June 2015.
The value of the dividend recommended by the Management Board will depend on the Company’s investment plans, existing commitments and assessment of the Company’s prospects in the existing market situation, to be carried out by the Management Board and Supervisory Board.