Profil:
Mercator Medical SAMercator Medical's resolution on 2023 profit distribution revoked by court
The Regional Court in Cracow has issued a first instance judgment in a case, brought by an individual shareholder of listed medical gloves producer Mercator Medical, to lift the resolution of the ordinary general meeting, which decided to allocate the 2023 profit to the company's reserve capital, Mercator said in a market filing.
As reported in the market filing, the court decided to revoke the resolution and ordered Mercator Medical to reimburse court costs to the plaintiff.
The company added that the verdict is not final. Mercator will request the court to prepare a statement of reasons for the verdict and will consider an appeal once it is received.
On May 28, 2024, the shareholders decided to allocate the net profit made in 2023 in the amount of approximately PLN 69.8 million (EUR 16.4 mln) in its entirety to the company's reserve capital.
As reported previously in the market filing regarding the resolutions, the proxy of shareholder Cezary Waczkow stated that he voted against the resolution and objected to it.
mbi/ ao/