Profil:
Jastrzębska Spółka Węglowa SAJSW granted approval to increase limit for redemptions of rainy-day fund FIZ
The supervisory board of listed coking coal group JSW Group granted approval to increase the limit for redemptions of the company's rainy-day fund FIZ to PLN 1.8 billion (EUR 419.2 mln) from PLN 1.3 billion (EUR 302.8 mln), the company said in a market filing. Considering the previously granted consents, the FIZ redemption limit for 2024 amounts to a total of PLN 2 billion (EUR 465.8 mln).
In addition, the supervisory board granted consent to redeem 19,415 E-series closed-end investment fund (FIZ) certificates with a total estimated value of approximately PLN 27.3 million (EUR 6.4 mln) and 407,947 F-series FIZ certificates with a total estimated value of approximately PLN 572.7 million (EUR 133.4 mln).
"In total, according to the information contained in this report and the information provided in current reports no. 31/2024, 36/2024, 40/2024 and 46/2024, in 2024, the supervisory board gave consent to the redemption of FIZ certificates with a total estimated value of PLN 1,990.0 million out of the redemption amount of PLN 2,000.0 million planned for 2024," the release said.
"In accordance with the provisions of the syndicated sustainability-linked loan agreement, the company will not recommend the payment of any dividends and profit distributions unless the company has not made any distributions from the FIZ in the 12 months preceding such recommendation," it added.
nl/ ao/