The Management Board of Cyfrowy Polsat S.A. (the Company) hereby informs that on April 21, 2011 it resolved to submit for consideration of the Ordinary General Meeting the recommendation not to pay the dividend for the shareholders from the profit for the year 2010.
The Management Board justifies its decision by the need of future service of the debt incurred by the Company to purchase 100% shares of Telewizja Polsat S.A. The reduction of indebtedness of the Company, planned by the Management Board, and thereby reduction of the net debt/EBITDA ratio, will reduce interest charges arising from the signed loan agreements, and thus will have a positive impact on the Company's financial standing.
Legal basis: Article 56 Section 1 item 2 the Offering Act in connection with § 38 Section 1 item 7 of the Ordinance of the Minister of Finance of February 19, 2009 regarding current and periodic information to be submitted by issuers of securities and terms of acknowledging the equivalence of information required under the laws of non-member states.
Current_report_19_2011.pdf 13.14 KB
