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Summary of Agora Group's ESG activities in 2023

RESPONSIBLE BUSINESS, AGORA, NAJNOWSZA AKTUALNOść (TOOLBAR)

Summary of Agora Group's ESG activities in 2023

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    AGORA S.A.
    Czerska 8/10 Street
    00-732 Warszawa

    AGO 0%
    mWIG40 0%
    WIG-MEDIA 0%

    Regon: 11559486
    Numer KRS: 59944
    NIP: 526-030-56-44

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    March 24, 2022 / 18:53

    05/2022 Recommendation of the Management Board of Agora S.A. to withhold the payment of dividend for 2021

    Regulatory filing

    The Management Board of Agora S.A. with its registered seat in Warsaw ("the Company", "Agora"), adopted a resolution on the submission of a motion to the Annual General Meeting of Shareholders to withhold the payment of dividend for 2021.

    The above departure from the dividend policy announced on 14 February 2005, results from two years of the Company's struggle with the effects of the COVID-19 pandemic, which prevented the implementation of the Agora Group's strategy and forced the Company to make significant savings and discontinue development investments. The negative effects of the pandemic caused by restrictions and limitations in the activities of many enterprises also had a significant impact on the current condition of the Polish economy.

    An additional factor increasing the uncertainty about the country's economic situation is difficult to estimate impact of Russian Federation’s armed aggression in in Ukraine on the Polish economy. It may significantly influence the growth rate of the Polish economy.

    In the circumstances of such high uncertainty in the market environment, the Management Board of Agora considered it justified to keep the financial resources in the Company and recommend the General Meeting of Shareholders not to pay dividend for 2021 in order to strengthen the financial position of the Group. Additionally, the Management Board of Agora, after two years of limiting investments only to the essential ones, plans to allocate free funds to the implementation of growth and maintenance projects in the current businesses of the Agora Group.

    The above decision received a positive opinion from the Supervisory Board in the form of resolution.

    The final decision on the dividend payment will be made by the General Meeting of Shareholders of the Company.

    Legal basis: Art. 17 sec. 1 of the Regulation of the European Parliament and of the Council (EU) No 596/2014 of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directive 2003/124/EC,2003/125/EC and 2004/72/EC.

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