Current report no.: 21/2018 

Date of preparation: 2018-07-24

Abbreviated name of the Issuer: CIECH S.A.

Subject: Appointment of the Chairman, Deputy Chairman and Secretary of the Supervisory Board of CIECH S.A., and members of the Audit and Remuneration Committees of the Supervisory Board of CIECH S.A.

Legal basis: Art. 56 section 1 pt. 2 of the Act on Public Offering – Current and Periodic Information

Contents of the report:

The Management Board of CIECH S.A. (the “Company” or “Issuer”), in reference to current report no. 17/2018 of 22 June 2018, informs that on 24 July 2018, the Supervisory Board of the Issuer appointed Mr Sebastian Kulczyk to the office of the Chairman of the Supervisory Board of the Issuer, Mr Tomasz Mikołajczak to the office of the Deputy Chairman of the Supervisory Board of the Issuer, and Mr Mariusz Nowak to hold the office of the Secretary of the Supervisory Board of the Issuer.

At the same time, the Supervisory Board of the Issuer adopted a resolution under which it appointed the following members of the Audit Committee: Mr Piotr Augustyniak, Mr Mariusz Nowak and Mr Artur Olech. Mr Piotr Augustyniak was elected by the members of the Audit Committee as its Chairman.

The aforementioned composition of the Audit Committee meets the independence criteria and requirements specified in article 129 section of the Act of 11 May 2017 on statutory auditors, audit firms and public supervision, i.e.:

1. at least one member of the Audit Committee has knowledge and skills in accounting or auditing of financial statements,
2. at least one member of the Audit Committee has knowledge and skills in the Company’s industry,
3. the majority of the Audit Committee members, including its Chairman, are independent of the Company.

According to detailed rule II.Z.8 of the "Code of Best Practice for WSE Listed Companies 2016", the Chairman of the Audit Committee meets the independence criteria set out in Annex II to Commission Recommendation of 15 February 2005 on the role of non-executive or supervisory directors of listed companies and on the committees of the (supervisory) board.

Furthermore, the Supervisory Board of the Issuer adopted a resolution on the appointment of the following members of the Remuneration Committee: Mr Tomasz Mikołajczak, Mr Mariusz Nowak and Mr Dawid Jakubowicz. 

Information on education, qualifications and previously held positions, together with a description of the professional career progress of the aforementioned individuals was made public in current report no. 17/2018 of 22 June 2018.

Legal basis: § 5 pt. 5), in conjunction with § 10 pt. 3), of the Regulation of the Minister of Finance of 29 March 2018 on current and periodic information provided by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state.

Signatures of individuals representing the company:

Maciej Tybura – President of the Management Board
Krzysztof Szlaga – Member of the Management Board