Report11 bit studios
Rekomendacja Rady Nadzorczej w sprawie podziału zysku netto 2023: Polska
1 pages~1 min full read
Key insights
6 slides
Key number
The entire 2023 net profit goes to a reserve fund.
The supervisory board recommends transferring PLN 525,609 into a reserve fund. No dividends will be distributed for the 2023 fiscal year.
No dividends. 11 bit studios S.A. will not distribute dividends for the 2023 fiscal year.
What changed
The board prioritizes capital preservation over shareholder payouts.
The recommendation reflects a conservative approach to capital preservation. The company retains earnings for future investment or risk mitigation.
Capital preservation. The company is prioritizing capital preservation to support future investments and risk mitigation strategies.
Next step
The Ordinary General Meeting makes the final decision.
The final distribution decision will be made by the Ordinary General Meeting scheduled for 6 June 2024. The recommendation was formally approved by the supervisory board on 9 May 2024.
Procedural steps. The Ordinary General Meeting, scheduled for 6 June 2024, will make the final decision regarding the profit allocation.
- 019 May 2024Supervisory board approves management's proposal
- 026 June 2024Ordinary General Meeting makes final decision
Compliance
The disclosure follows standard Polish corporate governance practices.
This disclosure follows standard corporate governance practices for Polish public-listed companies. It is governed by Article 56(1)(2) of the Offer Act.
Scope
The report focuses solely on the 2023 profit allocation.
The report is concise and limited to the supervisory board's stance. It does not provide broader financial context or comparative data.
Audience
The document is addressed to stakeholders in Warsaw.
The document is addressed to stakeholders in Warsaw. It follows standard corporate governance disclosure practices for Polish public-listed companies.
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Summary
The recommendation of the supervisory board concerns the allocation of the 2023 net profit for 11 bit studios S.A. The board, on 9 May 2024, approved the management’s proposal to transfer the entire net profit of PLN 525,609 into a reserve fund. This decision aligns with Article 56(1)(2) of the Offer Act, which governs interim and periodic disclosures. The final distribution decision will be made by the Ordinary General Meeting scheduled for 6 June 2024. The recommendation reflects a conservative approach to capital preservation, ensuring that the company retains earnings for future investment or risk mitigation. The report is concise and limited to the supervisory board’s stance, without providing broader financial context or comparative data. It focuses solely on the 2023 profit allocation and outlines the procedural steps for final approval, indicating that no dividends will be distributed this year. The document is addressed to stakeholders in Warsaw and follows standard corporate governance disclosure practices for Polish public‑listed companies.
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