JWS is to decide how to divide up its record profits of PLN 2.08bn in 2011 profit at a general shareholders meeting on May 31. The proposal to direct PLN 130m towards employee bonuses, made by the coal producer’s management board, has met with resistance from minority shareholders. The decision on the matter, however, will be up to the state, as Poland’s Treasury holds 57 percent of the company.
“The management proposal is disadvantageous for the entire company, including its shareholders,” says Piotr Cieślak, the Vice-President of Association of Individual Investors (SII).
