ASG Europesp. z o.o.

Manner of representation

If a one-person management board is appointed, the President of the Management Board acts independently. When incurring an obligation or disposing of a right exceeding PLN 25,000.00 (twenty-five thousand zlotys), joint action by the President of the Management Board together with a commercial proxy is required, or, if no commercial proxy has been appointed, the President of the Management Board is authorised after obtaining the prior consent of the partners’ meeting. The obligation referred to in the second sentence also means the sum of obligations incurred at short intervals towards one contractor. If a multi-member management board is appointed, two members of the management board, or one member of the management board jointly with a commercial proxy, are authorised. When incurring an obligation or disposing of a right up to PLN 25,000.00 (twenty-five thousand zlotys), each member of the management board is authorised to act independently.