ESPI 20/2020 Change in the date of publication of quarterly report for H1 2020

The Management Board of IMS S.A. informs about the change of the date of publication of the extended consolidated quarterly report for Q1 2020. The report will be published on 15 June 2020, not as the Company informed on 28 May 2020 (according to current report no. 1/2020 of 20 January 2020).

 

Detailed legal basis: §80 section 2 of the Regulation of the Minister of Finance of 29 March 2018 on the current and periodic information and § 21 section 3 of the Regulation of the Minister of Finance on the determination of other deadlines for the fulfilment of certain reporting and information obligations of 7 April 2020. (Journal of Laws of 2020, item 622 in connection).

ESPI 19/2020 Opinion of the Supervisory Board on the Management Board’s recommendation to pay dividends for 2019

With reference to the current report no 15/2020, the Management Board of IMS S.A. (“Company”) informs that today the Supervisory Board of the Company adopted a resolution on positive assessment of the Management Board’s motion to temporarily suspend its dividend policy.

In accordance with the decision of the Management Board – taking into account the occurrence of the epidemic of coronavirus SARS-CoV-2, causing COVID-19 disease and its impact on the activity of IMS S.A. – The dividend payment policy applied by IMS S.A. in relation to 2019 (dividend paid in 2020) is suspended.

At the same time, the Supervisory Board of IMS S.A. indicated that – due to a difficult to predict general economic situation – it is appropriate to re-examine at a later date whether and, if so, in what amount the Management Board will issue a recommendation concerning the payment of dividend for the financial year 2019. The Supervisory Board recommended to the Management Board of IMS S.A. to formulate a new proposal concerning the payment of dividend and thus the distribution of profit for the financial year 2019 on the date of convening the Ordinary General Meeting in 2020.

ESPI 18/2020 Receiving a substantial financial subsidy

Management Board of IMS S.A. (“Company”, “Issuer”) hereby informs that on 13 May 2020 it received information that the Company was granted a subsidy of PLN 2.978.000 from the Polish Development Fund under the PDF Small and Medium Enterprises Financial Shield Programme (“Programme”) launched on 29 April 2020. Previously, three subsidiaries of the Issuer – IMS r&d Sp. z o.o., IMS events Sp. z o.o. and APR Sp. z o.o. – received subsidies in the amounts of PLN 380.000, 265.000 and 299.000 respectively.

Subsidies are subject to be repaid in 24 equal monthly installments, starting from the 13th calendar month, counting from the first full calendar month after the date of granting the subsidy. Basing on the conditions included in the regulations of the Programme, the Board of the Issuer estimates that about 50% of the received amounts of the subsidy, i.e. a total of approximately 2 million PLN, will be remitted.

ESPI 17/2020 Change in the date of publication of annual reports for 2019

The Management Board of IMS S.A. informs about the change of the date of publication of the separate annual report for 2019 and consolidated annual report for 2019. Both reports will be published on 20 May 2020, not as the Company informed on 8 May 2020. (according to current report no. 16/2020 of 27 April 2020). Change of the date of the publication of the reports results from the high involvement of the financial department of IMS S.A. in developing tools to support IMS Group companies in connection with the coronavirus pandemic.

At the same time, the Management Board of IMS S.A. informs that the final financial results for 2019 have not changed significantly in relation to the estimates for 2019 published on 10 February this year in current report no. 6/2020 (the differences are not greater than +/- PLN 0.1 million).

Detailed legal basis: §80 section 2 of the Regulation of the Minister of Finance of 29 March 2018 on the current and periodic information and § 21 section 3 of the Regulation of the Minister of Finance on the determination of other deadlines for the fulfilment of certain reporting and information obligations of 7 April 2020. (Journal of Laws of 2020, item 622 in connection).