Biuro Obrotu MagotS.A.

Manner of representation

If the management board is a one-person management board, the President of the Management Board is authorised to submit declarations of will and sign on behalf of the company independently. If the management board is a multi-member management board, the following are authorised to submit declarations of will and sign on behalf of the company: a) if one-off dispositions or obligations undertaken do not exceed PLN 50,000 – the President of the Management Board independently, or two members of the management board acting jointly, or one member of the management board acting jointly with a commercial proxy; b) if one-off dispositions or obligations assumed exceed PLN 50,000 – two members of the management board acting jointly; c) in the case of one-off dispositions or obligations undertaken covered by a transaction with a value exceeding PLN 100,000 – each member of the management board independently, after obtaining the prior consent of the supervisory board.