Mercator Medical will propose to shareholders to allocate approx. 35% of the consolidated net profit for the years 2020 and 2021 for dividend payment or a share buyback program, the company said.
“The Management Board of Mercator Medical SA announces that it has made a decision that it will request the issuer’s general meeting to adopt resolutions to allocate approximately 35% of the consolidated net profit of the issuer’s group for 2020 and 2021 for the payment of dividends to shareholders or a share buyback program” – we read in the message.
In October, CEO Wiesław Żyznowski informed that the company plans to allocate 10-20% of the profit for 2020 to the payment of dividends.
“Mercator Medical is only at the beginning of its development path, it has very good prospects and strong foundations. That is why we will reconcile investments with sharing success with shareholders. We intend to allocate 35% of the profit for 2020 and for 2021 for the payment of dividends and possible buyback of own shares. Always. I believed that the obligation of a listed company is to pay dividends, and in addition, for me as the largest shareholder, this is obviously an important topic,” said Żyznowski, quoted in the release.
Yesterday, the company Anabaza controlled by Wiesław Żyznowski and the chairman of the supervisory board, and privately the spouse of the president – Urszula Żyznowska launched the process of building an accelerated book of demand for a total of up to 508,000. company shares, constituting in total up to 4.79% of shares. At the same time, they pledged not to sell any more shares until June next year (lock-up for 6 months).
“So far, I have never sold any shares of Mercator Medical in history, and what is more – I have been buying shares on the stock exchange. I have also repeatedly indicated that my majority stake is not for sale, but in the case of smaller transactions I clearly signaled openness – having in mind both the increase in free float as well as the presence of funds in the shareholding structure, which is an important aspect for investors and index committees “- emphasized the president.
The main shareholder of Mercator Medical is Anabaza Ltd, which holds 60.12% of the share capital and 71.26% of the total number of votes. 100% of Anabaza Ltd. shares belongs to Wiesław Żyznowski. In total, Wiesław Żyznowski holds directly and indirectly shares constituting a total of 66.16% of the company’s share capital, providing a total of 75.61% of the total number of votes at the general meeting, according to the information on the Mercator Medical website.
The Mercator Medical group states that it is a leader in Poland and one of the key players in Central and Eastern Europe on the market of disposable medical gloves. It owns a production plant in Thailand. The group operates globally in over 50 countries. In 2013, the company debuted on the WSE. Its consolidated sales revenues reached PLN 540 million in 2019.
