The Management Board of Venture INC ASI SA (Issuer, Company) informs that on February 26, 2021 it adopted a resolution on the adoption of the Company’s dividend policy.
According to the assumptions, the Management Board, starting from the Company’s results for the financial year ending on December 31, 2020, intends to recommend each time to the General Meeting the payment of dividends to the Company’s shareholders.
The assumption of the Dividend Policy is that the Company makes dividend payments in accordance with the amount of the Company’s profit and the Company’s financial capabilities, always subject to and complying with applicable law, specifying restrictions on dividend payment, in particular restrictions resulting from the provisions of the Commercial Companies Code.
In accordance with the adopted Dividend Policy, in the event that the Company generates a net profit for a given financial year, the Management Board will submit to the General Meeting a recommendation and a proposal for the distribution of the net profit, taking into account the allocation of part or all of the profit for dividend payment.
The Management Board, when formulating and submitting conclusions and recommendations regarding the payment of dividends in a given financial year, will always take into account, inter alia, the following factors influencing the content of his application: (i) the net result of the Company, (ii) the general financial situation and liquidity of the Company, (iii) the existing and future liabilities of the Company (including, in particular, the existing and potential liabilities of the Company resulting from its investment policy ), (iv) assessment of the Company’s prospects in specific market and macroeconomic conditions, (v) the need to spend funds in connection with the Company’s development, (vi) other known circumstances and one-off obligations, (vii) applicable law.
The Management Board of the Company emphasizes and points out that pursuant to Art. 395 § 2 point 2) of the Commercial Companies Code, the sole body authorized to make the final decision on the distribution of the Company’s profit or coverage of the Company’s loss, including the body authorized to make a decision on the payment of dividends and its amount, is always the General Meeting, and the shareholders participating in it are in no way limited or bound by the conclusions and recommendations of the Management Board.
Art. 17 sec. 1 of MAR – confidential information.