Shareholders of OT Logistics conditionally decided on PLN 1 or PLN 1.09 of dividends per shareWarsaw, 27/07/2022 (ISBnews) – The ordinary general meeting of OT Logistics adopted a resolution on the distribution of profit for 2021, which provides for a conditional payment of dividends to shareholders in the amount of PLN 1 or PLN 1.09 per share, the company announced.

The dividend will be paid on the following terms:

1. In the event of the joint fulfillment of the conditions described below in sec. 3 letters ac) and registration of series E shares of the company with the National Depository for Securities before the dividend date, the amount of PLN 13 098 780, i.e. PLN 1 per share, will be paid as dividend to the company’s shareholders. The dividend will cover 13,098,780 shares of the company.

2. In the event of the joint fulfillment of the conditions for dividend payment described below in sec. 3 letters ac) and the failure to register series E shares of the company with the National Depository for Securities before the dividend date, the amount of PLN 13,078,670.2, i.e. PLN 1.09 per share, will be paid as dividends to the company’s shareholders. The dividend will cover 11,998,780 shares of the company.

3. The dividend will be paid on the terms specified in sec. 1 or in sec. 2 if the following conditions for dividend payment are jointly met before the dividend date:

a) obtaining by the company, expressed in a manner consistent with the terms of the bond issue and generally applicable law, consent to the payment of dividends from bondholders of series G bonds issued by the company, or to repay these bonds,

b) obtaining by the company, expressed in a manner consistent with the terms of the bond issue and generally applicable law, consent to the payment of dividends from bondholders of series H bonds issued by the company, or to repay these bonds,

c) the occurrence of one of the following events: (i) final rejection or rejection of the application for bankruptcy of the company considered by the District Court Szczecin-Centrum in Szczecin under the reference number XII Gu 318/21, or (ii) issuance by the temporary court supervisor appointed in the above-mentioned proceedings consent to the payment of dividends, or (iii) legally valid revocation of the security consisting in the appointment of a temporary court supervisor established in the above-described proceedings, was mentioned.

NED

In the event of non-fulfillment of the above-mentioned terms of dividend payment, the entire amount of the company’s net profit for 2021, i.e. PLN 74,165,810.57, will be transferred to the supplementary capital.

Moreover, the ordinary general meeting set the dividend record date as three months from the date of the resolution in question. If the designated day falls on a non-working day, the dividend day will be the next weekday preceding that day. the dividend will be paid within two weeks from the dividend date, it was also stated.

The OTL Group is a group listed on the Warsaw Stock Exchange specializing in transport, forwarding and logistics services. Its consolidated sales revenues reached PLN 791 million in 2021.

(ISBnews)




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