LegalPCF Group
Resolution No. 4/2024 of the Board of PCF Group S.A.
29 Apr 20241 pages~1 min full read
PCF Group S.A. recorded a net loss of 64,651,944.69 zł for the fiscal year ending 31 December 2023.
The Board of PCF Group S.A. has formally proposed covering the entire 2023 net loss by utilizing the company’s reserve capital.
The proposal must be reviewed by the supervisory board before being presented to the ordinary shareholders’ meeting for final approval.
The loss-coverage procedure is being executed in accordance with article 395 § 2 point 2 of the Polish Commercial Companies Code.
The board’s strategy to offset the loss via reserve capital is intended to maintain equity stability and investor confidence.
The resolution regarding the loss-coverage proposal became effective immediately upon its adoption by the board.
PCF Group S.A., headquartered in Warsaw, has formally proposed that the net loss recorded for the fiscal year ending 31 December 2023, amounting to 64 651 944,69 zł, be fully offset using the company’s reserve capital. The board’s resolution invokes the statutory provisions governing loss coverage and outlines the procedural steps required to obtain shareholder approval, emphasizing compliance with both the company’s articles of association and the Polish Commercial Companies Code.
The proposal mandates that the supervisory board evaluate the loss‑coverage request in accordance with the relevant statutory clause and subsequently present its assessment to the ordinary shareholders’ meeting. This procedural requirement ensures that the decision undergoes the necessary oversight and aligns with corporate governance standards stipulated in article 395 § 2 point 2 of the Commercial Companies Code.
The resolution becomes effective immediately upon adoption, reflecting the board’s intent to address the financial shortfall promptly. By allocating the loss to reserve capital, the company aims to preserve equity stability and maintain confidence among investors and stakeholders, while adhering to the legal framework governing loss absorption in Polish joint‑stock companies.
