SecoWarwick's Shareholder Structure and Dividend Policy Overview
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SecoWarwick does not have a declared dividend policy, but the intention is to pay a regular dividend. The company has carried out share buybacks in previous years (the most recent in 2020 and 2021) at a significantly lower price than at present (PLN 14.5). There will now be a preference to pay a dividend rather than carry out another buyback.
Shareholders
SecoWarwick's largest shareholder is SW Holding, SWH (33%), whose beneficiaries are, in comparable shares, Andrzej Zawistowski and Janusz Gudaczewski. The controlling company's share capital is PLN 50mn and its registered office is in Poznań. SecoWarwick currently holds 1,682,189 treasury shares (following the recent grant of shares to managers under the incentive scheme). At the last AGM in 2023, the redemption of 298,554 shares was resolved. As a result, the number of shares (which will also be the number of shares outstanding) will fall to 10,000,000.
After the registration of the cancellation, SecoWarwick will still hold 1,383,635 treasury shares (14% of the capital). At this time, the company is not communicating its intention to cancel the remaining shares, but also has not ruled out doing so in the past. Spruce Holding (SHLLC) controls almost 11% of the shares (dependent on Jeffrey Boswell - who sits on the company's supervisory board). Open Pension Funds control around 27% of the company's shares. Other shareholders account for approx. 12%.
On November 8, 2016, the shareholders (SW Holding, Spruce Holding, Paweł Wyrzykowski, Andrzej Zawistowski and Bartosz Klinowski) entered into a Share Lock-Up Agreement. The restriction on the disposal, offering and pledge of the company's shares resulting from the Agreement was valid until December 31, 2020 at the latest. By virtue of an addendum concluded on August 7, 2019, the validity of the Agreement was extended until December 31, 2023, in respect of the following shareholdings: (3,387,139 shares in the company held by SWH, 1,123,337 shares held by SHLLC, 307,058 shares held by Paweł Wyrzykowski, 65,000 shares held by Andrzej Zawistowski, 84,981 shares held by Bartosz Klinowski.
