Decision of the Management Board of LPP SA on the initiation of the procedure involving a merger with its subsidiary Gothals Ltd
Current report no: 03/2019
Date: 25 March 2019
Time: 5:00 p.m
The Management Board of LPP SA with its registered office in Gdańsk informs that, on 25 March 2019, the Board made a decision in respect of an intended cross-border merger of LPP SA with its single-member subsidiary Gothals Ltd. Following such merger, LPP SA will take over all the assets of Gothals Ltd, including rights to trademarks.
As assessed by the Management Board, the merger will contribute to the simplification of the structure of the LPP SA Capital Group.
At the same time, LPP SA brings attention to the fact that the finalising of the merger will require approvals to be granted by the Supervisory Board and the General Meeting of Shareholders.
Current report no: 04/2019
Date: 25 March 2019
Time: 5:03 pm
The Management of LPP SA with its registered office in Gdańsk informs that, on 25 March 2019, the Board decided to submit to the Supervisory Board and the Ordinary General Meeting of Shareholders the application for division of the Company’s net profit earned in the financial year ended 31 December 2018, in which the Board recommends a dividend to be disbursed in the amount of PLN 110 065 020.00, i.e. PLN 60.00 per share (the amount per share gives recognition to the assumed awarding by the Supervisory Board of LPP SA of shares as part of an incentive programme).
At the same time, in the said application, the Management Board of LPP SA suggests that the dividend date should fall on 18 June 2019, with the dividend payment date falling on 27 June 2019.
The above-mentioned application will be delivered to the Supervisory Board of LPP SA for opinion purposes as required under § 33(3) of the Company’s Articles of Association and Article 382(3) of the Commercial Companies Code and presented for consideration by the Ordinary General Meeting of Shareholders as required under Article 395(2)(2) of the Commercial Companies Code and § 33(1)(3) of the Articles of Association of LPP SA.
Selected preliminary consolidated financial data of the LPP CG for the first quarter of 2019
Current report no: 05/2019
Date: 1 April 2019
Time: 5.11 p.m.
The Management Board of LPP SA announces to the public selected preliminary consolidated financial data of the LPP SA Capital Group for the first quarter of 2019:
- revenues: PLN 1 830 mln (increase by 16% y/y),
- gross profit on sales: PLN 800 mln (increase by 12% y/y),
- SG&A expenses: PLN 895 mln (increase by 9% y/y),
- operating loss (EBIT): PLN 105 mln (as compared to operating loss of PLN 118 mln in 2018),
- revenues in LFL stores (in local currencies) in the entire first quarter of 2019 increased by 11.4%,
- at the end of the first quarter of 2019, retail space reached 1 086 thousand m2 (an increase by 8.5% y/y).
The said data has been calculated based on the current knowledge of the Management Board as at 1 April 2019 and may change after the full closing of accounting books.
At the same time, the Management Board of LPP SA informs that a detailed financial report for the first quarter of 2019 will be published on 28 May 2019.