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Advance Towards the Expected Dividend

16.11.2021

Date

2021-11-16

Current report no.

32/2021

 

The Management Board of TIM S.A., hereinafter: “TIM S.A. or the “Company”_ announces that on 16 November 2021 it decided to pay an advance towards the expected dividend at the end of 2021 in the total amount of PLN 26,639,040_in words: twenty-six million six hundred thirty-nine thousand forty zloty_ gross, i.e. PLN 1.20_in words: one zloty twenty grosz_ gross per share, of which the amount of 17,759,360_in words: seventeen million seven hundred fifty-nine thousand three hundred and sixty-six thousand zloty_comes from the profit achieved by the Company in the period between 1 January 2021 to 30 June 2021 and the amount of PLN 8,879,680 _in words: eight million eight hundred and seventy-nine thousand six hundred eighty zloty_ comes from funds accumulated on the dividend fund.
22,199,200 bearer shares of TIM S.A. are entitled receive an advance toward the expected dividend at the end of 2021. 

The right to pay an advance towards the expected dividend at the end of 2021 is granted to the shareholders holding the shares of TIM S.A. on 16 December 2021, and the payment will be made on 23 December 2021. 

TIM S.A. has sufficient funds to pay the advance towards the expected dividend for the financial year 2021, and the advance payment is in accordance with Article 349(2) of the Commercial Companies Code, i.e.:
1_annual financial statements of TIM S.A. prepared for the period from 1 January 2020 to 31 December 2020 show a net profit of PLN 36,039 thousand, 
2_semi-annual financial statements of TIM S.A. prepared for the period from 1 January 2021 to 30 June 2021 show a net profit of PLN 35,984 thousand, 
3_ on 5 October 2018 Extraordinary General Meeting of TIM S.A. authorised the Management Board of TIM S.A. to dispose of funds accumulated in the TIM dividend fund on which, as at 30 June 2021, the assets amount to PLN 37,659 thousand, for the purpose of paying advances towards the dividend.
The above financial statements have been audited by a certified auditor, Grant Thornton Polska Sp. z o.o. sp. k., with its registered office in Poznań, entered into the list of entities authorised to audit financial statements under no. 4055.
At its meeting on 16 November 2021, the Supervisory Board of TIM S.A. agreed to pay shareholders an advance towards the expected dividend at the end of the financial year 2021 on the above-mentioned terms and conditions proposed by the Management Board of TIM S.A. 
SIGNATURES OF PERSONS REPRESENTING THE COMPANY
2021-11-16, Krzysztof Folta – President of the Board
2021-11-16, Piotr Tokarczuk – Member of the Board