ESPI Report 18/2020: Registration of amendments to the Articles of the Issuer in the National Court Register

The Management Board of Sescom S.A. (“the Company”, “the Issuer”) was informed today that on 9 June 2020 the amendments to the Articles of Sescom were registered in the Gdańsk – Północ District Court, Commerce Department VII. The amendments were made pursuant to the Resolution No. 18 of the General Shareholders Meeting of Sescom from 16 March 2020.

The scope of the amendments that where made in the Articles of Sescom:

  1. A change made at section 14, paragraph 1, subparagraph “k”

The previous wording:

“k)          determine the remuneration of the members of the Supervisory Board,”

The current wording:

“k)          determine the Remuneration Policy of the members of the Management Board and the Supervisory Board as well as the amount of remuneration for Supervisory Board members.”

  1. A change made at section 17, subparagraph “d”

The previous wording:

“d) appointment and/or removal of the Management Board’s members and determine their salary,”

The current wording:

“d) appointment and removal of the Management Board’s members and determine their salary within the limits set by the General Shareholders Meeting in Remuneration Policy.”

  1. New subparagraphs: “I” and “j” were added in section 17:

“i) approval of a transaction between the company and a related party, if the value of the transaction exceeds 5% of sum of the company’s assets, except for:

i) transactions which were concluded under market conditions as a part of the normal activities of the company, or

ii) transactions which were concluded with a subsidiary for which the company is the only shareholders

j) preparation of an annual report on the remuneration of the Management Board and Supervisory Board members to the General Shareholders Meeting.”

The full content of the consolidated text of the Articles of Sescom was attached to this report.

Attachment: Articles of Sescom

Legal Basis: Article 56.1.2. of the Public Offering Act – current and periodic information

Signatures of the Company’s representatives:

Sławomir Halbryt – President of the Management Board