The share capital of the Company amounts to PLN 41,972,000 and is divided into 41,972,000 shares with a nominal value of PLN 1 per share including:
- 14,779,470 series A preferred registered shares, and
- 27,192,530 series B ordinary bearer shares.
27,192,530 series B ordinary bearer shares are introduced to trading on GPW (64.79% of all shares representing 47.92% of the total vote).
The series A registered shares are preferred as follows:
- each series A share represents two votes, and
- shareholders who hold more than 25% of the total number of series A registered shares (i.e., more than 10,493,000 series A registered shares) are not subject to the limitation on voting rights laid down in § 9(3) of the Articles of Association.
Holders of series A preferred registered shares may convert series A shares to series B ordinary bearer shares. Conversion of preferred registered shares to ordinary bearer shares results in a change of the number of votes conferred by each share from two votes to one vote per share.
GPW has no information as to agreements which could result in any changes in the future in respect of the proportions in shares held by the existing shareholders.
|Shareholder||Stake in the share capital||Votes at the General Meeting|
|Number of shares||Stake||Number of votes||Stake|
|State Treasury of the Republic of Poland - preferred shares (series A)||14 688 470||35.00%||29 376 940||51.76%|
|Other shareholders - preferred shares (series A)||91 000||0.21%||182 000||0.32%|
|Other shareholders - bearer shares (free float; series B)||27 192 530||64.79%||27 192 530||47.92%|
|Total||41 972 000||100%||56 751 470||100%|
As at 31 December 2016, and as at the date of preparation of this report, the State Treasury of the Republic of Poland was the only shareholder holding directly or indirectly at least 5% of the overall number of votes at the GPW General Meeting.
Amongst all persons managing and supervising the Company, its shares bought in public offering (25 shares) were held as at the balance-sheet date by:
- Dariusz Kułakowski, Vice-President of the Management Board.
According to the Company’s best knowledge, persons currently managing and supervising the Company do not hold shares in its related parties.
The Company did not purchase its own shares in 2016. The Company has no employee share scheme; accordingly, it has no control system for an employee share scheme.