The Management Board of TOYA S.A. (hereinafter: the “Company”) in Wrocław informs that, on 22 May, 2018, it adopted a resolution in the matter of recommending to the Ordinary General Meeting of the Company to designate the entire profit of the company for the fiscal year 2017 in the amount of PLN 35 377 628.13 (say: thirty-five million three hundred seventy-seven thousand six hundred and twenty-eight zlotys 13/100) towards the supplementary capital. The above recommendation shall be submitted to the Supervisory Board for the purpose of its assessment in accordance with art. 382.3 of the Commercial Companies Code.
The Management Board’s intention is to designate PLN 17 850 000 (say: seventeen million eight hundred fifty thousand zlotys 00/100) towards the purchase of own shares of the Company, TOYA S.A., for the purpose of their redemption.
In the opinion of the Company’s Management Board the parametres of purchasing the shares, as indicated in report no. 16/2018 of 22 May, 2018 in the matter of the planned purchase of the Company’s own shares, are established in such a manner that the purchase of the aforementioned shares is in the best interest of the Shareholders of TOYA S.A. and their redemption will potentially contribute to an increase in the value of the Company’s shares listed on the Warsaw Stock Exchange, and, in consequence, to an increase in the value of the capital invested by the Shareholders.
The recommendation as to leaving a part of the profit in the Company takes into account the current financial situation and further execution of the development plans of TOYA S.A. Capital Group, providing for the demand for the working capital in connection with the ongoing expansion of assortment and ensuring optimal value of the stocks.
The final decision in the matter of distribution of the Company’s profit for the fiscal year 2017 shall be taken by the Ordinary General Meeting of Shareholders.
The report was prepared based on: art. 17, section 1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of April 16, 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ EU L of 2014, No. 173, p. 1 as amended).
Grzegorz Pinkosz – President of the Management Board