June 14, 2018 / 5:11 AM / 2 months ago

CORRECTED-BRIEF-Minority Shareholder Requested Debica To Spend Up To 436.5 Mln Zlotys On Share Buy-Back

(Corrects headline and text to show that the proposal on share buyback was put forward by Debica’s minority shareholder, not Debica. Specifies that decision on proposed resolutions will be made by the Extraordinary Shareholders Meeting on Sept. 25. Adds third bullet on proposed change of dividend policy.)

June 14 (Reuters) - FIRMA OPONIARSKA DEBICA SA:

* SAID ON WEDNESDAY THAT ITS SHAREHOLDER ALTUS TOWARZYSTWO FUNDUSZY INWESTYCYJNYCH SA (ALTUS TFI), WHICH OWNS OVER 5 PERCENT OF DEBICA’S SHARE CAPITAL, HAS PROPOSED TO VOTE ON BUYBACK OF UP TO 2.6 MILLION SHARES AT THE EXTRAORDINARY SHAREHOLDERS MEETING ON SEPT. 25

* SAID ALTUS TFI PROPOSED THAT SHARES BE BOUGHT BACK AT PURCHASE PRICE OF 170 ZLOTYS PER SHARE, NOT EXCEEDING 436.5 MILLION ZLOTYS IN TOTAL

* SAID THAT ALTUS TFI PROPOSED ALSO CHANGING DIVIDEND POLICY FOR 2018-2020 TO PAY DIVIDEND OF 100 PERCENT OF THE AMOUNT POSSIBLE TO BE PAID

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Further company coverage: (Gdynia Newsroom)

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