justification for the draft resolutions of the annual general meeting of

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JUSTIFICATION FOR THE DRAFT RESOLUTIONS
OF THE ANNUAL GENERAL MEETING
OF IDEA BANK S.A.
1606031100
Idea Bank S.A.
ul. Przyokopowa 33
01-208 Warszawa
www.ideabank.pl
801 999 111
+48 22 101 10 10
[email protected]
T:
Idea Bank Spółka Akcyjna z siedzibą w Warszawie, ul. Przyokopowa 33, 01-208 Warszawa, wpisana do rejestru przedsiębiorców prowadzonego przez
Sąd Rejonowy dla m.st. Warszawy w Warszawie, XII Wydział Gospodarczy Krajowego Rejestru Sądowego, pod numerem KRS 0000026052,
REGON 011063638, NIP 5260307560, której kapitał zakładowy wynosi 156 803 962 zł (opłacony w całości).
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The Management Board of Idea Bank S.A. („Bank”, „Company”) in accordance with Best Practices for WSE Listed Companies 2016 (attachment to the resolution no 26/1413/2015 of the WSE Supervisory Board as of 13 October 2015 r.,
regarding adoption of the „Best Practices for WSE Listed Companies 2016”; hereinafter „BP 2016”) and § 2 section 3 of
the Bank’s General Meeting Bylaws („Bylaws”) hereby presents the justification for the draft resolutions being subject
of the Bank’s Annual General Meeting convened on 18 April 2016. In compliance with BP 2016 requirements (Principle
IV.Z.9. of the BP 2016), Bank strives to ensure that draft resolutions of the General Meeting contain justification, if it
helps shareholders to adopt resolution with adequate understanding.
1.Justification for the draft resolution no 1 and 2 of the Company’s Annual General Meeting (point 2 and 4 of the
agenda).
Both draft resolutions concern procedural issues. In light of the art. 409 § 1 of the Commercial Companies Code (“CCC”)
and § 9 section 3 and § 11 section 1 of the Bylaws, the proceedings of the General Meeting are headed by the President
of the General Meeting, elected by the shareholders among the persons entitled to attend General Meeting. In light of the
above and in connection with § 9 section 2 of the Bylaws, resolution in the subject matter is an indispensable element of
the properly conducted General Meeting.
The General Meeting proceeds in accordance with adopted agenda. As it is stipulated in article 404 § 1of the CCC, resolutions in issues which are not covered by the agenda may not be adopted unless the whole share capital is present at the
General Meeting and nobody raises objection towards adoption of the resolution. § 10 section 5 of the Bylaws stipulates
that the President of the General Meeting, after confirming that the General Meeting is properly convened and is able to
adopt resolutions, presents the agenda to meeting and conducts proceedings of the General Meeting in compliance with
the approved agenda ( § 11 section 1 of the Bylaws). As a consequence adoption of the above resolution is also vital for
General Meeting to be properly conducted.
2.Justification for draft resolution no 3 of the Annual General Meeting (point 5 of the agenda).
The resolution no. 3 is aimed at adapting the principles of remuneration of the Supervisory Board to the requirements resulting from the “Principles of Corporate Governance for Supervised Institutions” issued by the Polish Financial Supervision Authority and the recommendations contained in the “Best Practice for GPW Listed Companies 2016”. According to
§ 29 of the “Principles of Corporate Governance for Supervised Institutions” the supervisory body members appointed to
work in committees, including the audit committee, should be remunerated adequately to the additional tasks performed
within a given committee. The recommendation VI.R.4. of the “Best Practice for GPW Listed Companies 2016” stipulates
that the remuneration levels of members of the management board and the supervisory board and key managers should
be sufficient to attract, retain and motivate persons with skills necessary for proper management and supervision of the
company. The remuneration should be adequate to the scope of tasks delegated to individuals, taking into account additional functions, for instance on supervisory board committees.
1606031100
Idea Bank S.A.
ul. Przyokopowa 33
01-208 Warszawa
www.ideabank.pl
801 999 111
+48 22 101 10 10
[email protected]
T:
Idea Bank Spółka Akcyjna z siedzibą w Warszawie, ul. Przyokopowa 33, 01-208 Warszawa, wpisana do rejestru przedsiębiorców prowadzonego przez
Sąd Rejonowy dla m.st. Warszawy w Warszawie, XII Wydział Gospodarczy Krajowego Rejestru Sądowego, pod numerem KRS 0000026052,
REGON 011063638, NIP 5260307560, której kapitał zakładowy wynosi 156 803 962 zł (opłacony w całości).