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SMT - Simteract SA News Story

PLN22.26 -1.2  -5.1%

Last Trade - 09/04/21

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BRIEF-SMT announces long term and operations financing strategy

Thu 28th January, 2016 10:21am
Jan 28 (Reuters) - SMT SA  SMTP.WA : 
    * Said on Wednesday that its shareholders adopted company's 
framework plan for SMT's operations financing and long-term 
financing 
    * Implementation of the plan depends on adoption by 
shareholders certain resolutions, including ones for FY net 
profit allocation and authorization for share buyback  
    * The plan provisions higher financial results of company's 
unit iAlbatros  
    * Plans to allocate about 23.3 million zlotys ($5.7 
million)for purchase of shares of its unit iAlbatros 
    * Plans to invest about 20.0 million zlotys in product 
development, creation of  foreign branches, expansion of the 
sales network, among others 
    * Plans to recommend to its shareholders to transfer of 
profits from the years 2016 to 2018 to the reserve capital 
    * Moreover, plans to allocate 31.5 million zlotys for share 
repurchase  urn:newsml:reuters.com:*:nL8N15C14V 
    * Plans to allocate about 49.5 million zlotys for repayment 
of some of its bank loans and bonds until end of Q2 2016 as well 
as about 11.7 million zlotys for repayment of liabilities  
 
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM2721723 
     
 Further company coverage:  SMTP.WA   
    
 
 
 
($1 = 4.0849 zlotys) 
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 698 3920;))
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