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GENERAL MEETING

THE SUWARY SPÓŁKA AKCYJNA MANAGEMENT BOARD NOTICE OF CONVENING AN ORDINARY GENERAL MEETING OF SHAREHOLDERS TO BE HELD AT 1 PM, ON MARCH 8, 2017 IN PABIANICE, PIOTRA SKARGI 45/47

15.02.2017

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Current report 15/2018 Bonus Policy Adoption

Pursuant to Article 17(1) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (the Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC, the Management Board of Suwary S.A. in Pabianice (the "Company") informs that on 27 August 2018 the Supervisory Board adopted bonus policy for persons who are essential for the implementation of the Company's strategy.

The purpose of introducing bonus policies is to create additional stimulus that will motivate senior management to increase the Company's value.

The bonuses will be issued in five annual bonus periods commencing at 1 October 2017 and ending on 30 September 2022 if the conditions specified in the bonus rules are met.

The Company shall issue bonuses:

- for  the first three bonus periods after  April 1, 2021,

- for  the fourth bonus period after April 1, 2022,

- for  the fifth bonus period after April 1, 2023,

at the request of the entitled persons, which must be submitted not later than March 31, 2028.

The calculation basis for the payment of the bonus shall be the increase in the value of the company from the date of the bonus policy commencement, up to date of the bonus realization. The value of the company on the date of bonus realization is calculated on the basis of the weighted average (for three years) of the increase of EBITDA realized by the company and the conditions of financial obligations and funds at the end of the period preceding the bonus payment. 

The bonus policy does not indicate the upper limit of the bonus amount to be paid to individuals or to all participants. The bonus policy grants, individual persons who are entitled to the bonuses, a defined percent of the increase of the Company’s value as the amount of the bonus due.

 


 

2018-08-27

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