Reduction of the share premium

Reduction of the share premium in 2018

In addition to the 2017 dividend of CZK 17 before tax per each share with nominal value of CZK 10 (for more information see here) the Annual General Meeting held on 4th June 2018 adopted a resolution, which approved a distribution of a part of the Company’s share premium as follows:

The General Meeting approves the distribution of a portion of the Company's share premium in the current amount of CZK 10,675,971,253.91 as follows:

  1. the share premium of the Company shall be distributed (reduced) in the total amount of up to CZK 1,240,880,268.0,
  2. the company assets also include treasury shares. The company's entitlement to the payment related to the share premium distribution will not arise; the relevant amount (i.e. the relevant part of the above stated maximum mount) shall be kept on share premium account,
  3. an amount of CZK 4 before tax shall be distributed to each share with the nominal value of CZK 10,
  4. an amount of CZK 40 before tax shall be distributed to the share with the nominal value of CZK 100,
  5. given the above-mentioned provisions of this resolution, the final total amount distributed to the shareholders as well as the amount of the remaining share premium will depend on the actual number of treasury shares owned by the company,
  6. under the conditions arising from the Czech legal regulations, the relevant tax shall be deducted (subtracted) by the company before payment execution,
  7. the payment shall be carried out based on the extract from the statutory register, provided by the company as of 4 June 2018 (unless the records in the register differ from the actual reality),
  8. the share premium amount intended for payment shall be payable on 4 July 2018. The responsibility for the payout stays with the company's Board of Directors and it shall be exercised through Česká spořitelna, a.s. at the company's costs and aspects not covered by this resolution will be effectuated mainly in compliance with legal regulations and the Articles of Association.

Detailed information share distribution payment is available here
Information on the taxation of the share premium distribution is available here

Reduction of the share premium in 2017

In addition to the 2016 dividend of CZK 17 before tax per each share with nominal value of CZK 10 (for more information see here) the Annual General Meeting held on 10th May 2017 adopted a resolution, which approved a distribution of a part of the Company’s share premium as follows:

The General Meeting approves the distribution of a portion of the Company's share premium in the current amount of CZK 11,893,802,821.91 as follows:

  1. the share premium of the Company shall be distributed (reduced) in the total amount of up to CZK 1,240,880,268.0,
  2. the company assets also include treasury shares. The company's entitlement to the payment related to the share premium distribution will not arise; the relevant amount (i.e. the relevant part of the above stated maximum mount) shall be kept on share premium account,
  3. an amount of CZK 4 before tax shall be distributed to each share with the nominal value of CZK 10,
  4. an amount of CZK 40 before tax shall be distributed to the share with the nominal value of CZK 100,
  5. given the above-mentioned provisions of this resolution, the final total amount distributed to the shareholders as well as the amount of the remaining share premium will depend on the actual number of treasury shares owned by the company,
  6. under the conditions arising from the Czech legal regulations, the relevant tax shall be deducted (subtracted) by the company before payment execution,
  7. the payment shall be carried out based on the extract from the statutory register, provided by the company as of 10 May 2017 (unless the records in the register differ from the actual reality),
  8. the share premium amount intended for payment shall be payable on 9 June 2017. The responsibility for the payout stays with the company's Board of Directors and it shall be exercised through Česká spořitelna, a.s. at the company's costs and aspects not covered by this resolution will be effectuated mainly in compliance with legal regulations and the Articles of Association.

Detailed information share distribution payment is available here
Information on the taxation of the share premium distribution is available here

Reduction of the share premium in 2013

The Annual General Meeting held on 22nd April 2013 adopted a resolution, which approved a distribution of a portion of the Company’s share premium as follows:

  1. The share premium of the Company shall be distributed (reduced) by the total amount of up to CZK 3,220,899,000.00. An amount of CZK 10 before tax shall be paid to each share, with the nominal value of CZK 87. An amount of CZK 100 before tax shall be paid to the share, with the nominal value of CZK 870.
  2. The Company currently owns its ordinary shares. The Company’s own shares shall not bear the right to payment related to the share premium distribution; the respective amount (i.e. the respective portion out of the above-mentioned maximum amount) shall be kept on the respective equity account.
  3. Given the above-mentioned provisions of this resolution, the final aggregate amount distributed to the shareholders as well as the amount of the remaining share premium will depend on the actual number of own shares owned by the Company.
  4. Under the conditions arising from the applicable legal regulations, the relevant tax shall be deducted (subtracted) by the Company before executing the payment. Shareholders will be informed of details, as appropriate.
  5. The payment shall be effectuated based on the extract from the securities register administered in accordance with Act No. 256/2004 Coll., the Capital Market Trading Act, prepared as of 14 October 2013.
  6. The share premium distribution shall be payable on 11 November 2013. The responsibility for the pay-out stays with the Company’s Board of Directors and it shall be exercised through Česká spořitelna, a.s. at the Company’s costs and in compliance with legal regulations and the Articles of Association.

Further detailed information about the payment method is available here
Information on the taxation of the share premium distribution is available here

Pay-out of the amount corresponding to the distribution (reduction) of the share premium in 2013 was terminated on 10 November 2018 by the Board of Directors’ resolution; since that day, the company will apply the limitation clause to the claimants for amount corresponding to the distribution (reduction) of the share premium.