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PL
In 2016, PZU followed the recommendations and regulations expressed in the Good Practices of Companies Quoted on WSE, except for recommendation IV.R.2
In 2016, PZU followed the recommendations and regulations expressed in the Good Practices of Companies Quoted on WSE, except for recommendation IV.R.2 which refers to enabling the shareholders to participate in general shareholders’ meeting using electronic means of communication, especially by:
- real-time broadcast of the general shareholders’ meeting,
- mutual real-time communication which allows shareholders to speak at the general shareholders’ meeting, while physically being in a different location than the place where the meeting is held,
- exercising, in person or via proxy, voting right at the general shareholders’ meeting.
At the moment, the PZU shareholders can watch a broadcast of the general shareholders’ meeting. The company, however, has not made a decision to introduce a so-called e-GSM. PZU believes that there is a number of technical and legal factors which may obstruct the proper course of general shareholders’ meeting. The legal concerns refer to the possibility of identification of shareholders and checking relevant documents of GSM participants. The risk related to technical problems, such as the Internet connection or a potential external interference with IT systems, may disturb the operations of the general shareholders’ meeting and raise doubts as to the effectiveness of resolutions adopted in the course of such a meeting. If such risks materialize, this may impact proper application of the relevant principle as a whole.
Moreover, the following rules do not apply to PZU:
- Rule I.Z.1.10 that refers to presenting on PZU’s corporate website financial forecasts – provided that the company has decided to publish them – published at least over the last 5 years, along with the information on the degree of their materialization, because as at these financial statements PZU SA was not publishing financial forecasts and estimations;
- Rule III.Z.6 that refers to non-distinguishing of an internal auditing function in a company’s organization, because such a function was distinguished in PZU’s organization;
- Recommendation IV.R.3 that refers to a situation where securities issued by a company are traded in several different countries (or on several markets) and in different legal systems, because PZU’s securities are traded exclusively on the Polish market.
Information on the PZU’ s application of recommendations and rules included in Good Practices of Companies quoted on WSE 2016 was published by the Company on 24 March 2016.
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