Current report No. 22/2022 – Ten Square Games – one of the biggest mobile games development companies in Poland

Reports.

Current

Current report No. 22/2022 .

25 April 2022

The Management Board of Ten Square Games S.A. seated in Wrocław (hereinafter referred to as “the Company” or “the Issuer”) is publishing a correction to current activity report no. 22/2022 dated April 22nd, 2022.

The correction concerns the amount intended for division among the shareholders as a dividend, and the amount dedicated to reserve capital.

In accordance with art. 364 § 2 of The Commercial Companies Code: “The Company shall not exercise share rights attached to their own shares, except for the right to sell said shares, or in order to perform actions aimed at preserving said rights.” Company shares are not subject to dividends. As of the day of publishing, the company owns 70 000 of its own shares.


The corrected report reads as follows:

“The Management Board of Ten Square Games S.A. seated in Wrocław (hereinafter referred to as “the Company”) hereby informs that on April 22nd, 2022, the board has adopted a resolution to submit a motion to the General Shareholders’ Meeting concerning the division of net profits for 2021 to the amount of 138,261,309.00 PLN (in words: a hundred and thirty-eight million two hundred sixty-one thousand three hundred and nine Polish zlotych), in the following manner:

  1. 72,317,830.00 PLN (in words: seventy-two million three hundred seventeen thousand eight hundred and thirty polish zlotych 0/100) to be divided among the shareholders via a dividend payment of 10.00 PLN (in words: ten Polish zlotych 0/100) per share (excluding the company’s shares);
  2. 65,943,479 PLN (in words: sixty-five million nine hundred forty-three thousand four hundred seventy-nine polish zlotych 0/100) to be dedicated to reserve capital.

The Management Board has also requested that the General Shareholders’ Meeting indicate June 2nd, 2022 as the dividend date, and June 16th, 2022 as the dividend payment date.

In its justification for the motion, the Management Board has indicated that the recommended division of profits was based on the amount made by the Company, the Company’s financial situation, its future capital needs, and the current situation in the world and the financial market uncertainty connected to it. According to the Company’s dividend policy, the Company pays out up to 75% of the consolidated net profit as dividends, however, taking the abovementioned factors into account, the proposed dividend amount for 2021 is equal to 52% of the consolidated net profits while being in accordance with the policy.

 

The dates recommended by the Management Board concerning the dividend day and dividend payment day are in accordance with the law.

The abovementioned motions will be reviewed by the Company’s Supervisory Board. The final decision concerning the division of income for the fiscal year ending December 31st, 2022 will be made by the General Shareholders’ Meeting.”