The Management Board of Globe Trade Centre S.A. (“the Company”) reports that on 28 May 2025 the Supervisory Board of the Company, following the recommendation of the Management Board hereby issued a positive opinion on the Management Board’s proposal to deviate from published dividend policy (dividend policy published on 20 March 2017) and not to pay the dividend.
The Management Board believes that it is in the interest of the Company and its shareholders to retain cash at the Company, which will allow the Company to maintain a strong capital and cash position to facilitate the refinancing of the €500 million bond due June 2026 and to allow for future growth through acquisitions and development. This recommendation is issued despite good operating performance achieved by the Company as measured by the FFO (funds from operations) in the financial year ended 31 December 2024.
The final decision regarding the payment of dividends for the year ended 31 December 2024 will be made by the general meeting of the Company.
Legal grounds: Art. 17(1) of Regulation (EU) No. 596/2014 of the European Parliament and of the Council 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 Directives 2003/124/EC, 2003/125/EC and 2004/72/EC – inside information.
2025-05-28 20:52