AGORA espi 2021-03-17 19:23

Recommendation of the Management Board of Agora S.A. to withhold the payment of dividend for 2020

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 2020.
The above departure from the dividend policy announced on 14 February 2005, is related to the economic uncertainty and the further impact of the COVID-19 pandemic and its effects on the operating activities and financial results of both Agora and the Agora Group, which is difficult to estimate.
In the circumstances of such high uncertainty, the Management Board of Agora considered it justified to keep the financial resources in the Company and recommend not to pay dividends for 2020 in order to strengthen the financial position of the Group.
The above decision received a positive opinion from the members of the Supervisory Board.
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.