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A counterproposal to a draft resolution of the agenda of the General Meeting of Shareholders

Zavarovalnica Triglav received from the shareholder VZMD a counterproposal to a draft resolution of the agenda of the General Meeting of Shareholders regarding the distribution of accumulated profit for 2020. According to the proposal of the Management Board and the Supervisory Board, a part of accumulated profit will be distributed for the payment of a dividend of EUR 1.70 gross per share, while the shareholders will decide on the distribution of the remaining part at the next General Meeting of Shareholders. The shareholder proposes to pay out a dividend of EUR 3.50 gross per share, which it justifies with good business results achieved last year and the year before and because it believes that the Company is capable of paying out such a dividend without adversely affecting or obstructing its plans. The Management Board does not agree with the counterproposal. This proposal is inconsistent with the restriction set by the Insurance Supervision Agency for applying the exemption from its position of not paying dividends before September this year, while it also insufficiently takes into account the precautionary aspect regarding maintaining the financial stability of the Triglav Group in the persisting situation of high uncertainty. The General Meeting of Shareholders of Zavarovalnica Triglav will be held on 25 May 2021.

More information is available at https://www.triglav.eu/en/investors/actual/announcements/ad-hoc-information/doc-seonet-76170


 
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