Prospectus - Notowania

shares greater than 5% of the share capital with voting rights. To calculate said limit,
total shareholdings in all subsidiaries - direct or indirect - and in associates of the
parent company, natural persons, legal persons, or companies, in question must be
considered, as well as shares held by trusts and/or third parties and/or those for which
the voting right is granted in any manner to a party other than the owner. Conversely,
shareholdings included in mutual fund portfolios managed by subsidiaries or
associates do not need to be considered.
Savings shares issued by the Company do not have voting right. The reduction in
share capital for losses does not result in a reduction of the notional value of savings
shares if not for the share of losses that exceeds the total notional value of other
shares. In the event the Company is dissolved, savings shares have priority in the
capital reimbursement for the entire notional value. If reserves are distributed, savings
shares have the same rights as other shares.
If ordinary or savings shares of the Company are barred from trading, the savings
shareholder may request that his/her shares be converted to ordinary shares in the
Company, based on the procedure resolved by the Extraordinary Shareholders’
Meeting convened for such purpose within two months of the shares being barred.
Savings shares, upon being fully paid-in, are bearer shares unless otherwise provided
by law. They may be converted to registered savings shares, or vice versa, upon
request of the shareholder and at his/her expense.
The net profit in the financial statements shall be allocated as follows, in accordance
with Section 32 of the Articles of Association:
(a) at least 10% allocated to the reserve; when the reserve reaches the maximum
provided by law, the profit will be allocated with priority to savings shares as
described in point b) below;
(b) savings shares shall be allocated an amount up to five percent of their notional
value; if in any financial year, a dividend of less than five percent of the notional
value is allocated, the difference is added to the privileged dividend allocated in
the subsequent two financial years; profits that remain after the dividend
allocation to savings shares as described above, are divided between all shares
such that the savings shares shall have a total dividend increased by three
percentage points of the notional value of the shares, with respect to the ordinary
shares;
(c) notwithstanding the provisions above for the total dividends allocated to savings
shares, ordinary shares shall be allocated an amount equivalent to five percent of
their notional value;
(d) the remaining profits, as resolved by the Shareholders’ Meeting, is divided
among the shares in addition to the allocations described in letters b) and c)
above;
(e) the Shareholders’ Meeting shall resolve the assignment of unallocated profit,
based on the proposal of the Board of Directors.
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