Management Board powers

Matters that require a Management Board resolution
as of December 31, 2014 and as of the day of publishing the 2014 Annual Report
1. Management Board bylaws,
2. company’s organizational regulations,
3. establishment and liquidation of branches,
4. appointment of a proxy,
5. drawing down credits and loans,
6. approving the company and the Group’s annual material and financial plans and the Group’s Corporate Strategy,
7. assuming contingent liabilities in the meaning of the Accounting Act of September 29, 1994, including granting guaranties and sureties and issuing bills of exchange, subject to § 20 clause 2 item 4 and 5 of the Articles of Association,
8. making donations, cancelling interest or releasing from debt, subject to § 43 clause 3 items 1 and 2 of the Articles of Association,
9. purchasing real estate, perpetual usufruct or shares in real estate or in perpetual usufruct, subject to § 20 clause 2 item 1 of Articles of Association,
10. purchasing fixed assets excluding real estate, perpetual usufruct or share in real estate or perpetual usufruct whose value is equal to or greater than the PLN equivalent of EUR 10,000, subject to the provisions of § 20 clause 2 item 2 of the Articles of Association,
11. disposing (control) of fixed assets including real estate, perpetual usufruct or shares in real estate or perpetual usufruct whose value is equal to or greater than the PLN equivalent of EUR 10,000, subject to the provisions of § 20 clause 2 item 3 of the Articles of Association,
12. defining how to vote at shareholder meetings in companies in which the company holds shares on matters in the scope of the Shareholder Meeting’s powers subject to the provisions of § 20 clause 3 item 9 of the Articles of Association,
13. rules of conducting sponsoring activities,
14. adopting the annual plan of sponsoring activities,
15. matters which the Management Board refers to the Supervisory Board or the Shareholder Meeting for review.

 

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Letter from the President of the Management Board [43KB PDF]Open
Auditor's Opinion [477KB PDF]Open
Consolidated annual report for the year 2014 [3MB PDF]Open
Standalone annual report for the year 2014 [1MB PDF]Open
Quarterly Reports 2014 [4MB ZIP]Open
Consolidated annual report for the year 2013 [4MB PDF]Open
Consolidated annual report for the year 2012 [8MB PDF]Open
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FY 2014 Selected figures [24KB XLSX]Open
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