Special control rights
In accordance with the Articles of Association, as long as the State Treasury holds an equity interest in the Company, the State Treasury, represented by the minister concerned with matters pertaining to the State Treasury, acting in consultation with the minister competent for economic affairs, has the right to appoint and remove one member of the Supervisory Board.
Additionally, pursuant to the Articles of Association, the State Treasury (as a shareholder) approves in writing: (i) any amendments to material provisions of existing trade agreements for import of natural gas to Poland and the execution of such agreements, and (ii) the implementation of any strategic investment projects by the Company or its involvement in investment projects which, permanently or temporarily, impair the economic efficiency of the Company’s business activities, but which are necessary to ensure Poland’s energy security.
Irrespective of the State Treasury’s share in the Company’s share capital, the State Treasury also has the right to demand that the General Meeting be convened and that particular matters be placed on the agenda.