Asseco Poland - Investor Relation Centre

The foremost objective of Asseco Poland is to ensure continued growth of its business. The Company intends to spend most of its funds to create long-term value for its shareholders through acquisitions and internal development. Nevertheless, the Company is going to distribute excessive cash among its shareholders in the form of dividends.

Our Management Board will make recommendations to the General Meeting of Shareholders to allocate 10% to 40% of the Company's net earnings for dividend payments. The amounts of recommended dividends will depend on the Company’s:

• financial liquidity;
• planned capital expenditures.

Shares of Asseco Poland are not privileged as to dividend. This means the Company will pay equal dividend per each share.

Information on dividend payments will be announced in the Company's current reports. The dividend right shall be acquired by investors in whose securities accounts shares of Asseco Poland are entered on the dividend day.

Historical Dividends (for financial year)

Decision on dividend payment

Pursuant to art. 395 § 2 item 2 of the Polish Commercial Companies Code, the decision on distribution of net profit and dividend payment shall be made by the General Meeting of Shareholders. A resolution of the General Meeting shall determine whether a dividend shall be paid out and what portion of net profit shall be allocated for that purpose. All the shares of Asseco Poland carry dividend rights. The Management Board shall issue a proposal on distribution of net profit and, having obtained the Supervisory Board opinion, submit it to the General Meeting of Shareholders. In accordance with art. 395 § 2 of the Polish Commercial Companies Code, an Ordinary General Meeting of Shareholders should be held within six months as of the end of each financial year.

Conditions for receiving dividends

The conditions to be fulfilled by shareholders of Asseco Poland in order to receive dividends correspond to the principles generally adopted by public companies. Apart from that, according to § 23 of the Rules and Regulations of the Warsaw Stock Exchange, issuers of securities admitted to public trading are obliged to inform the WSE immediately of their intents and any decisions regarding the execution of rights from already listed securities as well as to consult such decisions with the WSE in the scope they may affect the way stock exchange transactions are organized and conducted. The above-mentioned obligations are applicable in particular to dividend payments.

Payment of a dividend is carried out through the National Depository for Securities which transfers dividend amounts directly to securities accounts maintained by brokerage houses for the persons eligible to receive dividend.

Pursuant to § 9 of Chapter XII Section 3 of the Detailed Rules of Public Trading, a listed company is obliged to inform the WSE forthwith of passing a resolution on distribution of net profit for shareholders dividend, specifying the amount of dividend, dividend right date, and dividend payment date.

According to art. 348 § 3 of the Polish Commercial Companies Code, the dividend day (i.e. the date when the dividend right is acquired) and dividend payment date shall be determined by the general meeting of shareholders of a public company. The dividend day may be established when passing the resolution on dividend distribution or during three months following the resolution date.

Furthermore, under § 91 of the Detailed Rules of Operation of the National Depository for Securities, listed companies are obliged to notify the NDS of the amount of dividend, dividend right date (in the Polish Commercial Companies Code referred to as the dividend day), and dividend payment date. Asseco Poland will need to consult such dates with the NDS. Additionally, according to § 91 sect. 2 of the NDS Detailed Rules of Operation, the time between the dividend right date and dividend payment date must be at least 10 days. In accordance with § 5 sect. 1 of the NDS Rules, the time-limit calculation shall include business days only, exclusive of Saturdays. The statute of limitations for dividend payment claims is 10 years.