Stara Planina Hold : Decisions of the General Meeting of Shareholders

Decisions of the General Meeting of Shareholders

06.06.2024

The general meeting of shareholders distributed a dividend for the financial year 2023.

The Regular General Meeting of the Shareholders of Stara Planina Hold, held on 06.06.2024 approved the 2023 activity report of the Company, the 2023 Annual financial statements verified by a certified public accountant and the reports of the Audit committee and the Investor Relations Director.

The General Meeting of Shareholders approved a resolution the amount of BGN 6 544 630.42 (six million five hundred forty-four thousand six hundred and thirty and forty-two stotinki) to be paid as dividend under the following parameters:

• Gross dividend per share: BGN 0.31579;
• Net dividend per share after deduction of 5% tax: BGN 0.30.
• Initial date for dividend payment - August 1st, 2024
• Term for dividend payment - 6 months until February 1st, 2025.

Dividend payment will be conducted in accordance with the requirements of the Law on Public Offering of Securities and the other applicable regulations of the current legislation - under a contract with Central Depository AD and through the branches of International Asset Bank AD in the regional cities.

The right to receive dividends for 2023 will be entitled to all persons/entities entered in the central register of securities, as such with the right to dividend by June 20th, 2024 at the latest.

The General Meeting of Shareholders released from responsibility the members of the Board of Directors for their activities in 2023 and appointed Assoc. Prof. Dr. Katya Raykova Zlatareva to be the certified auditor for the 2024 independent financial audit of the company.

The General Meeting of Shareholders re-elected for a new five-year mandate the members of the Board of Directors.

The General Meeting of Shareholders adopted the amendments to the Articles of Association proposed by the Board of Directors.

Stara Planina Hold has been paying dividend each year since its establishment.
The public companies in the Group of Stara Planina Hold - M + S Hydraulic and Hydraulic Elements & Systems also have a policy of regular dividend payments. The total cash flow by dividends expected to be collected in Stara Planina Hold this year amounts to BGN 7.455 million. The total amount of dividend distributed to shareholders of Stara Planina Hold until now has BGN 55.6 million. The initial investment in the holding company has a dividend cover of 31.8 times.
Total dividend of the companies in the Group of Stara Planina Hold is BGN 271.2 million.