The Management Board of LC Corp S.A. (hereinafter referred to as the “Company” or the “Issuer”) hereby informs that the Supervisory Board at a meeting held on 30/10/2018 elected Mr Jacek Osowski as the Vice-Chairman of the Supervisory Board after the vacancy in this office had been created due to Mr Michał Kowalczewski’s resignation as Supervisory Board Member (Current Report No. 58/2018 of 12/10/2018).
The Issuer’s Management Board further informs that due to changes in the composition of the Supervisory Board, the Supervisory Board at the meeting convened on 30/10/2018 changed the composition of the Issuer’s Audit Committee and the Appointment and Remuneration Committee.
Mr Jacek Osowski, who had tendered his resignation from the Audit Committee as of 30/10/2018, was replaced by Mr Piotr Kaczmarek, who was appointed to the Audit Committee. Following this replacement, the Committee is currently composed of the following persons:
– Michał Wnorowski – Chairman of Audit Committee,
– Grzegorz Grabowicz – Member Audit Committee,
– Piotr Kaczmarek – Member of Audit Committee,
The Issuer’s Management Board also informs that the Audit Committee composed of the aforesaid members meets the independence criteria and other requirements set out in Article 129(1), (3), (5) and (6) of the Act on Auditors, Audit Firms and Public Oversight, i.e.:
- At least one member of the Audit Committee has knowledge of and competence in accountancy or audit of financial statements;
- At least one member of the Audit Committee has knowledge of and competence in the Company’s business;
- The majority of the Audit Committee’s members, including the chairman thereof, are independent of the Company.
According to the special rule no. II.Z.8 of the “Best practices for WSE (the Warsaw Stock Exchange) Listed Companies 2016”, the Chairman of the Audit Committee meets the independence criteria referred to in Annex no. II to the European Commission Recommendation 2005/162/EC of 15 February 2005 on the role of non-executive or supervisory directors of listed companies and on the committees of the (supervisory) board.
As for the Appointment and Remuneration Committee, Mr Jacek Osowski was appointed thereto, and the Committee is currently composed of the following persons:
– Michał Hulbój – Chairman of Appointment and Remuneration Committee,
– Jacek Osowski – Member of Appointment and Remuneration Committee,
– Paweł Małyska – Member of Appointment and Remuneration Committee,
Legal basis: Article 17(1) of the Regulation No. 596/2014 of the European Parliament and of the Council (EU) of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC, 2003/124/EC, 2003/125/EC and 2004/72/EC.