1. Reasons behind HYDROBUDOWA POLSKA stock split
The key objective of the stock split was to improve the liquidity of Hydrobudowa Polska shares on the stock exchange. Based on a relevant decision of the Extraordinary General Shareholders Meeting of November 8th 2007, the District Court in Poznań registered the 1:50 stock split on December 18th 2007. The Company divided each share with a par value of PLN 50.00 into 50 shares with a par value of PLN 1.00. Following the stock split, the number of shares has risen, with the total value of share capital remaining unchanged at PLN 138,673,200.
2. Will dividend be paid from the 2007 profit?
No. On June 18th 2008, the Annual General Shareholders Meeting passed a resolution to allocate the 2007 profit of PLN 40,231,641.82 in the following manner: PLN 2,000,000.00 was contributed to the Company’s social benefits fund, PLN 3,218,531.43 was transferred to the statutory reserve fund, and PLN 35,013,111.43 was used to cover retained deficit.
