Revision to draft resolution no. 22 of the Ordinary General Meeting regarding the adoption of the Remuneration Policy for members of the Management Board and members of the Supervisory Board of Develia S.A.
Legal basis: Art. 56 par. 1 subparagraph 2 of the Offering Act - current and periodic information
The Management Board of Develia S.A. (the “Issuer”) informs that acting pursuant to Art. 399 par. 1 of the Code of Commercial Companies and Partnerships and according to Art. 19 par. 1 subparagraph 2 of the Regulation of the Minister of Finance of 29 March 2018 on current and periodic information provided by issuers of securities and on conditions under which information required by legal regulations of a third country may be recognised as equivalent (Dz. U. (Journal of Laws) 2018, item 757), on 20 August 2020 it passed a resolution concerning self-revision of draft resolution no. 22 of the Ordinary General Meeting to be held on 31 August 2020, published in current report no. 31/2020 of 3 August 2020, regarding the adoption of the Remuneration Policy for members of the Management Board and members of the Supervisory Board of Develia S.A. (here: the “Remuneration Policy”).
The revision to the resolution refers to section V of the Remuneration Policy and its objective is to introduce an additional proportion (5:1) between the variable and fixed remuneration received from the Company in the specific financial year by members of the Management in case of payment of variable remuneration to which the right was acquired as at the date of adoption of the Remuneration Policy and only its payment was deferred.
The Supervisory Board issued a positive opinion on the revised contents of the draft resolution.
The contents of draft resolution no. 22 of the Ordinary General Meeting with tracked changes are attached in the Appendix to this report.
Legal grounds: Art. 56 par. 1 subparagraph 2 letter a) of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies (Dz.U. (Journal of Laws) No. 184, of 2005, item 1539, as amended) in connection with Art. 19 par. 1 subparagraph 2 of the Regulation of the Minister of Finance of 29 March 2018 on current and periodic information provided by issuers of securities and on conditions under which information required by legal regulations of a third country may be recognised as equivalent (Dz. U. (Journal of Laws) 2018, item 757).
