Company 29: Determination of accumulated profit and proposal for its appropriation in line with the Companies Act
Pursuant to the Companies Act and the Articles of Association of Gorenje, d.d., the Management Board decided to appropriate a portion of profit for 2011, which amounted to EUR 7,288,175.94, to statutory reserves in the amount of EUR 728,817.59 and to other revenue reserves in the amount of EUR 3,279,679.17. The Supervisory Board agreed with this decision.
Determination of accumulated profit as at 31 December 2011 is shown below:
| In EUR | |
|---|---|
| Profit for the period | 7.288.175,94 |
| - creation of statutory reserves | -728.817,59 |
| - creation of other revenue reserves in line with the resolution of MB | -3.279.679,17 |
| + retained earnings | 2.244.820,69 |
| = accumulated profit | 5.524.499,87 |
The Management Board and the Supervisory Board have proposed to the General Meeting of Shareholders that the accumulated profit for the 2011 financial year in the amount of EUR 5,524,499.87 be appropriated for the following purposes:
- part of the accumulated profit in the amount of EUR 2,386,031.40 for the payment of dividends (EUR 0.15 gross per share),
- the remainder of the accumulated profit in the amount of EUR 3,138,468.47 shall remain unappropriated.