General Meeting

The Company’s General Meeting operates under the Code of Commercial Companies, the Company’s Articles of Association (in particular § 8 - § 12) and the General Meeting Rules. The operation of the WSE General Meeting and its powers are set out in the Company’s Articles of Association and the General Meeting Rules.

The Company’s Articles of Association and the General Meeting Rules are available on the Company’s website.

Shareholders can participate in and exercise their voting rights at the General Meeting either in person or by proxy.

The General Meeting resolutions are passed by an absolute majority of votes, save for resolutions which in accordance with the Code of Commercial Companies or the Articles of Association must be passed by a qualified majority of votes; a resolution on amending the Articles of Association may be adopted only by such General Meeting at which at least 50% of total votes in the Company are represented.

The following issues must be resolved by a General Meeting resolution adopted by the majority of two thirds of votes:

  • establishment of a limited property right or a contractual right on the enterprise of the Exchange or its organized part;
  • disposal of or establishment of any limited property right or a contractual right by the Exchange on shares held by the Exchange in entities conducting business activity in the area of trading in financial instruments;
  • acquisition or disposal of real estate, perpetual usufruct or any interest in real estate;
  • acquisition of own shares.

The General Meeting votes in an open ballot. Secret ballot is ordered for elections and motions for revoking members of the Company’s authorities or the Company’s liquidators, or for holding them liable, and for other personal issues. Additionally, a secret ballot must be ordered if requested by at least one shareholder present in person or by proxy at the General Meeting.

In accordance with the General Meeting Rules, open and secret voting may be conducted with the use of electronic devices with the consent of the General Meeting. The General Meeting may pass a resolution on repealing a secret ballot on issues concerning the election of committees appointed by the General Meeting.

A resolution on removing from the agenda or ceasing examination of an item placed on the agenda at the request of shareholders must be passed by an absolute majority of votes with the consent of the present shareholders who submitted the motion.

The WSE General Meeting is opened by the Chairman of the WSE Supervisory Board or his appointee, after which the chairman of the meeting is elected from amongst those eligible to participate in the General Meeting. The General Meeting adopts the General Meeting Rules laying down in detail the rules of procedure. The draft General Meeting Rules are presented by the WSE Management Board. Starting from 2011, it is possible to participate in the General Meeting by means of electronic communications if the announcement about the General Meeting contains information that such type of participation in the Meeting is admissible.

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