Telelink Business Services Group

Telelink Business Services Group AD (TBS Group) announces regular investor online meeting on 2 June 2021 from 5 p.m. to 6 p.m. Bulgarian time. TBS Group CEO Ivan Zhitiyanov will present Corporate earnings Q1 2021 and will answers to questions from investors.

Register for the online meeting here

GM on 21 June is to approve interim dividend

TBS Group will hold the regular General meeting of its shareholders on June 21 2021.

The shareholders will be asked to approve the Company’s individual and consolidated financial statements and annual reports. According to the latter, the Group of TBS ended 2020 with consolidated revenues of BGN 135,495 thousand, EBITDA of BGN 17,093 thousand и net profit in the amount of BGN 12,600 thousand.

The individual profit of TBS Group AD for 2020 amounted to BGN 7,420 thousand, out of which the Company shall allocate mandatory reserves as per the Commercial Act in the amount of 10% or BGN 742 thousand, and BGN 6,000 thousand or 90% of the distributable profit (after reserves) were already distributed as interim dividend in September 2020. The currently remaining retained earnings for the year in the amount of BGN 678 thousand can be distributed as dividend together with the interim dividend for 2021, after approval by a subsequent General Meeting of Shareholders.

For the avoidance of any doubt, the Company’s management plans to propose the distribution of dividends in the second half of the year, based on TBS Group AD’s interim results for the first six months of 2021 (same as the process implemented in 2020). In determining the dividend amount, together with other Group indicators, factors taken into account shall include retained earnings for 2020 in the amount of BGN 678 thousand, as well as the consolidated net profit for 2020 in the amount of BGN 12,600 thousand.

Other proposals include the increase of the maximum price of share buyback from BGN 13.00 to BGN 20.00 per share. The maximum authorized buyback volume of 3% of the capital per year and 10% in total until June 30 2023 remains unchanged. The materials in connection with the forthcoming regular general meeting of the shareholders on 21.06.2021 are available in x3news and on the company’s website.

Watch the video TBS Group Financial Outlook 2021 – 2025