Company: PRTC
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001782999-25-000005
Chunk: 68

Company: PureTech Health plc
Filing Date: 2025-04-30
Form: 20-F
Item: Item 8
Chunk 68
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ITEM 8.        FINANCIAL INFORMATION      
A. CONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION
Consolidated Financial Statements 
Please see the information below under the heading Item 18—“Financial Statements.”
Dividend Distribution Policy 
We have never declared or paid any dividends on our ordinary shares, though we may consider doing so in the future depending on the progression of our business. Under English law, we may only pay dividends if our accumulated realized profits, which have not been previously distributed or capitalized, exceed our accumulated realized losses, so far as such losses have not been previously written off in a reduction or reorganization of capital. Therefore, we must have sufficient distributable profits before issuing a dividend. Distributable profits are determined at the holding company level and not on a consolidated basis. Subject to such restrictions and to any restrictions set out in the Articles of Association, declaration and payment of cash dividends in the future, if any, will be at the discretion of our Board of Directors (the "Board") (and in the case of final dividends, must be approved by our shareholders), and will depend upon such factors as results of operations, capital requirements, contractual restrictions, our overall financial condition or applicable laws and any other factors deemed relevant by the Board. 
Legal Proceedings
As of December 31, 2024, we were not party to any material legal matters or claims, except as noted below. In the future, we may become party to legal matters and claims arising in the ordinary course of business, the resolution of which we do not anticipate would have a material adverse impact on our financial position, results of operations or cash flows. In March 2024, a complaint was filed against the Company alleging breach of contract with respect to certain payments alleged to be owed to a previous employee of a Company subsidiary based on purported terms of a contract between such individual and the Company. In April 2024, we filed an answer to the complaint denying all substantive claims. Since that date, the parties have filed certain discovery-related requests and responses, undertaken general discussions, and engaged in mediation. While we strongly believe in the merits of our position and intend to defend it vigorously, the ultimate outcome of this matter remains uncertain and will take time to resolve as the discussions between the parties remain ongoing. We will continue to evaluate this matter on an ongoing basis as the situation progresses.
B. SIGNIFICANT CHANGES
Except as otherwise disclosed in this annual report on Form 20-F and in the “Notes to the Consolidated Financial