The Management Board of Impel SA reports that at its meeting of March 30th 2009, it adopted a resolution on recommending the Ordinary General Meeting of Impel SA to approve the payment of dividend for the year 2008 of PLN 5,000,000.

At its meeting held on April 9th 2009, the Supervisory Board of Impel SA approved the motion filed by the Management Board of Impel SA proposing to pay its shareholders a dividend of PLN 5,000,000 for the year 2008.

On June 10th 2009, the Management Board of Impel SA decided to recommend the Ordinary General Meeting of Impel SA to allocate PLN 6,212,099.42 i.e. PLN 0.41 per share, for the payment of dividend.

The above-mentioned decision was taken in order to fulfil an earlier declaration of the Management Board, to pay Impel SA shareholders a dividend of PLN 5,000,000 for the year 2008, as reported in Current Report No. 21/2009 of March 31st 2009. Pursuant to Art. 364.2 of the Polish Code of Commercial Partnerships and Companies, profit is distributed for all shares of the Company, and the own shares bought back by the Company under the tender offer of January 6th 2009, will not be redeemed until the dividend date, which is why the change in the amount of the dividend is indispensable in order to maintain the dividend amount previously declared.

The aforementioned principle for the settlement of the dividend payable to the Company’s shareholders, was also applied by the Company in 2004 while paying the 2003 dividend.

Should the above-mentioned Management Board’s recommendation be approved by the Ordinary General Meeting, the actual amount to be paid to the shareholders will total PLN 4,982,099.42.

On June 10th 2009, the Company published draft resolutions to be voted during the Ordinary General Meeting of Impel S.A., concerning allocation of the financial result for 2008 and payment of dividend, with the following wording:

Acting pursuant to Art. 393 and 395.2 of the Polish Code of Commercial Partnerships and Companies, and Art. 27 of the Company’s Articles of Association:

Art. 1 

The Ordinary General Meeting of the Company hereby allocates the total net profit of PLN 33,452,886.16 (thirty three million, four hundred and fifty two thousand, eight hundred and eighty six złoty and 16 grosz) generated in January 1st 2008–December 31st 2008 to:

1. payment of dividend amounting to PLN 6,212,099.42 (six million two hundred twelve thousand and ninety nine zloty and forty two grosz) to the shareholders, i.e. PLN 0.41 per share.
2. reserve funds to the amount of PLN 27,240,786.74 (twenty seven million two hundred forty thousand, seven hundred and eighty six zloty, seventy four grosz).

Art. 2 

The Ordinary General Meeting of the Company hereby establishes July 15th 2009 as the dividend right date.

Art. 3

The Ordinary General Meeting of the Company hereby establishes July 30th 2009 as the dividend payment date.

Extraordinary General Meeting Approves New Buyback

On April 6th 2009, the Extraordinary General Shareholders Meeting of Impel SA approved the Company’s purchase – within 2 years from the date this resolution comes into force – of its own shares with a view to retiring them, pursuant to Art. 10 of the Company’s Articles of Association.

Resolution of the Extraordinary General Shareholders Meeting on authorizing the Company to purchase own shares with a view to retiring them. download

 

 

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