19 April 2019

Motion of the Management Board regarding the distribution of profit for 2018 and payment of dividend

Legal basis: Article 17(1) MAR – Confidential information

Content of the report:

The Management Board of Ten Square Games S.A. with its registered office in Wrocław (the “Company”) hereby announces that on April 18, 2019 it adopted a resolution to submit a motion to the General Meeting of Shareholders of the Company concerning the distribution of net profit for the year 2018 in the amount of PLN 37,022,951.00 (in words: thirty-seven million twenty two thousand nine hundred and fifty one zlotys) as follows:

  1. he amount of PLN 27,310,500.00 (in words: twenty-seven million, three hundred and ten thousand and five hundred zlotys) was proposed to be distributed among shareholders in the form of a dividend of PLN 3.78 (in words: three zlotys and seventy-eight groszy) per share;
  2. PLN 9,712,451.00 (in words: nine million seven hundred twelve thousand four hundred fifty one zloty) was proposed to be transferred to the Company’s reserve capital.

At the same time, the Management Board of the Company requested the General Meeting of Shareholders to set the dividend date as 5 June 2019 and the dividend payment date as 19 June 2019.
In its justification of the motions, the Management Board stated that the recommended distribution of profit takes into account the amount of profit generated by the Company, the Company’s financial standing, its capital needs and the amounts which, in accordance with the applicable laws, may be allocated to the payment of dividends. The recommended dividend amount is equivalent to 75% of the consolidated net profit. Thus, the recommendation is consistent with the Company’s dividend policy.
The dates recommended by the Management Board for the dividend date and the dividend payment date are consistent with the applicable laws and regulations and the 2016 Code of Best Practice for WSE Listed Companies.
These applications will be reviewed by the Company’s Supervisory Board. The final decision concerning the distribution of profit for the financial year ended 31 December 2018 will be made by the Ordinary General Meeting of the Company.