I own a Shareholder Certificate at BIOFARM S.A. and I only received dividends in one year. Why didn’t I receive dividends in the following years?

1. From the date of awarding in the year of 1996 of the Shareholder Certificates of BIOFARM S.A. at our company, as a result of the decision of the shareholders present at the general meetings that took place for the approval of the end of each financial year, the distribution of dividends related to the year 2000 was approved to each shareholder of the company, proportionally to the number of shares held.

2. By the decision of the Extraordinary General Meeting of Shareholders no. 37 of 13.07.2004, the shareholders present at the meeting decided to increase the share capital with the reserves constituted from the net profit related to 1997, 1998, 1999 distributed for the modernization of the company and the net undistributed profit related to 2001, 2002, 2003. Shares issued by increasing the share capital were distributed free of charge, in proportion to the number of shares held, to the shareholders registered in the shareholders’ register at the end of 15.07.2004.

3. By the decision of the Extraordinary General Meeting of Shareholders no. 44 of 02.06.2005, it was decided to increase the share capital of the company with the reserves constituted from the net profit for 2004. The shares issued by increasing the share capital were distributed free of charge, proportionally to the number of shares held, to the shareholders registered at the end of the day of 17.06.2005.

4. The General Meeting of Shareholders dated April 27, 2006 decided through the present shareholders not to distribute dividends for 2005, the remaining profit being allocated to the company’s reserves. At the same time, the Extraordinary General Meeting of Shareholders decided to delegate to the Board of Directors the power to increase the company’s share capital with the reserves constituted from the net profit for 2005. The Board of Directors of BIOFARM SA decided in the meeting of 23.05.2006 to increase the share capital of the company with the amount of RON 11,023,105. The shares issued by increasing the share capital were distributed free of charge, proportionally to the number of shares held, to the shareholders registered in the shareholders’ register at the end of 07.06.2006.

5. The Ordinary General Meeting of Shareholders of Biofarm S.A. from 25.04.2007 for the end of the financial year 2006, through the shareholders present at the meeting they decided that the remaining profit to be distributed should be allocated to the company’s reserves. By decision no. 54 / 25.04.2007 of the Extraordinary General Meeting of Shareholders, it was decided to increase the share capital with the amount of RON 11,737,599. The issued shares were distributed free of charge, proportionally to the number of shares held, to the shareholders registered in the shareholders’ register at the end of 14.05.2007.

6. By the decisions of the Ordinary General Meetings of the Shareholders no. 62 of 15.04.2009 and no. 65 of 21.04.2010, the shareholders present at the meetings decided to distribute the net profit related to 2008 and 2009 to cover some losses.

7. By the decision of the Ordinary General Meeting of Shareholders no. 66 of 19.04.2011, the shareholders present at the meeting decided to grant dividends at the gross value of 0.0055 lei / share. The dividend distribution procedure can be consulted on the company’s website at www.biofarm.ro, section Corporate Governance / GMS / General Meeting of Shareholders April 19 – 20, 2011.

8. By the decision of the Ordinary General Meeting of Shareholders no. 68 of 24.04.2012, the shareholders present at the meeting decided to grant dividends at a gross value of 0.010 lei / share. The dividend distribution procedure can be consulted on the company’s website at www.biofarm.ro, section Corporate Governance / GMS / General Meeting of Shareholders April 23 – 24, 2012.

9. By the decision of the Ordinary General Meeting of Shareholders no. 69 of 18.04.2013, the shareholders present at the meeting decided to grant dividends at a gross value of 0.013 lei / share. The dividend distribution procedure can be consulted on the company’s website at www.biofarm.ro, section Corporate Governance / GMS / General Meeting of Shareholders April 18 – 19, 2013.

10. By the decision of the Ordinary General Meeting of Shareholders no. 71 of 17.04.2014, the shareholders present at the meeting decided to distribute the profit related to 2013 to legal reserves and other reserves.

11. By the decision of the Ordinary General Meeting of Shareholders no. 73 of 23.04.2015, the shareholders present at the meeting decided to grant dividends at a gross value of 0.015 lei / share. The 2014 dividend distribution procedure can be consulted on the company’s website at www.biofarm.ro, Corporate Governance / Dividend Procedure section.

12. By the decision of the Ordinary General Meeting of Shareholders no. 75 of 29.04.2016, the shareholders present at the meeting decided to grant dividends at a gross value of 0.016 lei / share. The dividend distribution procedure 2015 can be consulted on the company’s website at www.biofarm.ro, section Corporate Governance / Dividend procedure section.

13. By the decision of the Ordinary General Meeting of Shareholders no. 76 of 26.04.2017, the shareholders present at the meeting decided to grant dividends at a gross value of 0.017 lei / share. The 2016 dividend distribution procedure can be consulted on the company’s website at www.biofarm.ro, Corporate Governance / Dividend Procedure section.

14. By the decision of the Ordinary General Meeting of Shareholders no. 78 of 19.04.2018, the shareholders present at the meeting decided to grant dividends at a gross value of 0.019 lei / share. The 2017 dividend distribution procedure can be consulted on the company’s website at www.biofarm.ro, Corporate Governance / Dividend Procedure section.

15. By the decision of the Ordinary General Meeting of Shareholders no. 79 of 23.04.2019, the shareholders present at the meeting decided to grant dividends at a gross value of 0.010 lei / share. The 2018 dividend distribution procedure can be consulted on the company’s website at www.biofarm.ro, Corporate Governance / Dividend Procedure section.

16. By the decision of the Ordinary General Meeting of Shareholders no. 80 of 11.12.2019, the shareholders present at the meeting decided to grant additional dividends at the gross value of 0.010 lei / share. The procedure for distributing the additional dividends 2018 can be consulted on the company’s website at www.biofarm.ro, section Corporate Governance / Dividend procedure.

17. By the decision of the Ordinary General Meeting of Shareholders no. 81 of 28.04.2020, the shareholders present at the meeting decided to grant dividends at a gross value of 0.021 lei / share. The 2019 dividend distribution procedure can be consulted on the company’s website at www.biofarm.ro, Corporate Governance / Dividend Procedure section.