RB nr 21/2011

Legal basis: Art. 56 subpar. 1 pt. 1 of the Act on Public Offering – inside information

The Management Board of MCI Management S.A. informs that on June 13, 2011, it adopted a resolution on adoption of new assumptions of the dividend policy in order to change the currently existing dividend model. It is the primary business objective of MCI Capital Group to maximize the value of the shares for the shareholders by maximizing the profit achieved from investments in alternative assets funds.
The Company intends to allocate the current profits primarily for the development of the portfolio of alternative assets funds by supplying the existing funds and launching new ones, however, MCI Capital Group intends to guarantee the shareholders’ participation in the profits gained by the Company through payment of dividend, depending on the circumstances described in this dividend policy and upon approval of the Ordinary General Assembly of the Shareholders.

Recommending the division of profits for the financial years 2011-2016, the Company shall submit to the General Assembly a proposal of payment of dividend from the annual net profit in the total amount of 5% of net assets of MCI Capital Group (NAV) as of the last balance sheet day preceding the payment deadline approval.

The recommendation of the Management Board regarding the payment of dividend in the amount refereed to above in a given financial year shall depend on the amount of gained profit, financial situation, existing liabilities (including the restrictions arising from the terms and conditions of issuance of bonds or agreements,) having the reserve capitals at its disposal and the assessment of the Company’s prospects in a specific market situation made by the Management Board and the Supervisory Board.

The recommendation of the Management Board on payment of dividend will be presented exclusively in regards of the following criteria and conditions:
a) Value of the total external debt of the Company as of the last balance sheet day preceding the recommendation day is below 20% (regards the value in the consolidated financial statements of MCI Capital Group);
b) Value of the dividend to be paid for a specific year shall each time amount maximum up to 33% of the value of net profit generated by MCI Capital Group in a given year;
c) Forecast increase in gross domestic product (GDP) in Poland published by the Main Statistical Office for the current and next year exceeds 4%. In the case when the forecast increase in GDP falls within 2%-4%, the recommendation of the management board to pay dividend can be decreased by 50% in relation to the value calculated according to this Policy. In the case when the forecast of GDP for the current and next year is below 2%, payment of dividend will not be recommended;
d) No formal restrictions limiting the possibility of the management board to recommend the payment of dividend (due to the conditions of issuance of bonds or granting credits and other formal restrictions);
e) It is possible to pay part of dividend in the form of distribution of assets representing up to 50% of the value of dividend paid for a given year as long as these assets are the shares of the companies or certificates of the funds listed on the Warsaw Stock Exchange.

All the facts described above should be taken into account by current and future investors – shareholders of the Company.

Magdalena Pasecka – Member of the Management Board
Tomasz Czechowicz – President of the Management Board