MOL plc

03/14/2019 | Press release | Distributed by Public on 03/14/2019 10:53

Decision of the Board of Directors regarding the 2019 Annual General Meeting

14-03-2019

MOL Plc. ('MOL') hereby notifies the market of the following:

The Board of Directors made the following decisions regarding the 2019 Annual General Meeting on its meeting held on 14 March:

  • Having considered the 2018 results, the strength of the balance sheet, future investment plans and uncertainties of external market conditions the Board of Directors proposes to raise the base dividend by 11.8% to approximately HUF 95 per share from last year's HUF 85 per share, thus continuing the previous trend of gradually increasing the base dividend. Additionally - similarly to last year - the Board of Directors also proposes to share the strong free cash flows of 2018 with shareholders in the form of a special dividend, which will be a 50% top-up of HUF 47.5 per share, thus implying a total dividend per share of approximately HUF 142.5. These amounts would correspond to a total dividend payment of HUF 107,284,482,158 paid - taking into account the expected approximate number of treasury shares at the record date -, which the Board of Directors proposes to the General Meeting.
  • the Board proposes re-electing Dr. Sándor Csányi as a member of the Board of Directors, for a five-year period, as his mandate will expire on 29 April 2019;
  • the Board proposes re-electing Dr. Anthony Radev as a member of the Board of Directors, for a five-year period, as his mandate will expire on 29 April 2019;
  • the Board proposes re-electing Dr. János Martonyi as a member of the Board of Directors, for a five-year period, as his mandate will expire on 29 April 2019;
  • the Board proposes electing Mr. Talal Al Awfi as a member of the Board of Directors, for a five-year period;
  • the Board proposes electing Dr. Anett Pandurics as a member of the Supervisory Board and Audit Committee, for a five-year period.