CR 17/2022 Statement of the Management Board of LPP regarding further operations in Russia

Statement of the Management Board of LPP regarding further operations in Russia

 

Current report no: 17/2022

Date: 28.04.2022

Time: 01:44 pm

 

Since the first days of the war taking place outside our eastern border, we at LPP have supported and respected all international economic sanctions imposed on Russia in connection with its aggression against Ukraine. This was confirmed by the decision of the company’s management board on 4 March this year to suspend operations and stop the supply of goods to the Russian market and the ongoing and planned development projects in that country.

Currently, all brick-and-mortar and online shops of LPP brands operating in Russia remain closed. However, taking into consideration the continuously uncertain situation and the fact that it is impossible to predict the fate of the armed conflict in Ukraine, we have made a decision to sell the RE TRADING OOO and LLC Re Development companies belonging to the LPP Group and registered in Russia.

We will announce further decisions and the results of the ongoing review of offers and talks with potential buyers in subsequent official announcements of the company.

 

CR 17 2022 – Statement of the Management Board of LPP regarding further operations in Russia

 

 

Certificate of conformity – 26th April 2022

From: LPP S.A.

To: Bondholders of Series A Bonds

Re: Series A Bonds Issued By LPP S.A. (“Issuer”) based on terms and conditions of issue of 22 November 2019 (“Terms and Conditions of Issue”).

Date: 26.04.2022

We refer to the Terms and Conditions of Issue. This letter is a Certificate of Conformity. Any capitalised terms in this Certificate of Conformity not defined separately shall have meanings provided in the Terms and Conditions of Issue.

Certificate of conformity: Download here

GENERAL MEETING OF SHAREHOLDERS (20.05.2022)

Notice on Convening of the Annual General Meeting

Draft resolutions of the Annual General Meeting of Shareholders of LPP SA

Information on the total number of shares of LPP SA, and the number of votes of these shares

Resolutions of the Supervisory Board of LPP SA

Report of the Supervisory Board of LPP SA on Remunerations of Members of the Management and Supervisory Boards

Report of the independent statutory auditor

Assessment by the in-house auditor

Resolutions of the Annual General Meeting of Shareholders of LPP SA

CR 16/2022 Draft resolutions of the Ordinary General Meeting of Shareholders of LPP SA

Draft resolutions of the Ordinary General Meeting of Shareholders of LPP SA

 

Current report no: 16/2022

Date: 22.04.2022

Time: 3:10 pm

 

The Management Board of LPP SA encloses to this current report the wording of resolutions to be put
on the agenda of the Ordinary General Meeting of Shareholders of LPP SA to be held on 20 May 2022.

 

CR 16 2022 – Draft resolutions of the Ordinary General Meeting of Shareholders of LPP SA

Attachment CR 16 2022 Draft resolutions of the Annual General Meeting of Shareholders of LPP SA

 

CR 15/2022 Convening of the Annual General Meeting of Shareholders of LPP SA

Convening of the Annual General Meeting of Shareholders of LPP SA

 

CR no: 15/2022

Date: 22.04.2022

Time: 3:04 pm

 

The Management Board of LPP SA presents in the annex hereto the notice on convening the Annual
General Meeting of Shareholders of LPP SA to be held on 20 May 2022.

 

CR 15 2022 – Convening of the Annual General Meeting of Shareholders

Attachment CR 15 2022 Notice on Convening of the Annual General Meeting

 

Fiscal year 2021/22

Due to the ongoing pandemic, the past year was associated with a significant economic slowdown in Poland and in the world. It was caused, inter alia, by the introduced restrictions, which largely affected the service and trade industry. Nevertheless, our family company from Gdańsk made every effort to end this year with a good result and guarantee stable employment for its employees.

Appropriate business decisions, flexibility as well as quick and skilful adaptation to changing and, above all, difficult economic conditions allowed us to continue to successfully implement the development strategy of LPP. All this translated into our profits, and thus into a significant amount of taxes, which we transferred to the state budget. LPP is a Polish clothing company in which, despite continuous expansion and dynamic development, we remember our roots – that’s why we pay taxes in Poland.

The table below presents information on what taxes LPP paid to the Polish budget for 2021/22. It includes not only the total amount of LPP taxes – the whole has been divided in a transparent and legible way so that everyone can see the details about the amount of our individual liabilities.

The table takes into account the amounts relating to the 2021/22 financial year, i.e. for the period from 02.2021 to 01.2022.

TAXES PAID TO THE STATE BUDGET IN 2021/22

Fiscal year02.2021/ 01.2022
VAT761,231
Corporate Income Tax – CIT360,180
CFC tax on foreign controlled entities31,528
Tax on retail sales PSD38,024
Customs duty202,426
Personal Income Tax – PIT31,831
The State Fund for the Rehabilitation of the Disabled (PFRON)153,603
ZUS total5,022
Real estate tax6,018
Tax on means of transport2
Total [PLN thousand]1,589,865

Data for 2021 are forecast. Final figures will be announced in July 2022 after filing the tax return.

Data analysis

The total amount of LPP tax revenues to the Polish budget in the accounting year 2021/22 amounted to over PLN 1.5 billion. This amount consists of various types of taxes and levies and any other liabilities that we have transferred to the national budget.

The VAT tax paid by LPP was the highest liability for this period and amounted to over PLN 761 million. Another important component of all revenues from our family clothing company to the state budget was the CIT tax, which exceeded PLN 360 million, and the customs duty, which amounted to over PLN 202 million.

In the described tax period, LPP also provided the state treasury with over PLN 5 million as part of ZUS contributions. The CFC tax exceeded PLN 31 million, and the PSD retail sales tax was over PLN 38 million.

LPP also paid large sums to the state treasury due to personal income tax (PIT – over PLN 31 million) and property taxes (over PLN 6 million).

Taxes paid to the state budget in 2021/22 (in PLN thousand)

Taxes paid by LPP SA in 2021 - VAT, CIT, CFC, PSD, Customs, PIT, PFRON, ZUS, real estate, means of transport