Bioconcept Capitalsp. z o.o.

Manner of representation

In the case of a one-person management board, the company is represented and declarations of will are made on its behalf independently by the President of the Management Board. In the case of a multi-member management board, the company may be represented by each member of the management board independently in matters not exceeding the scope of ordinary management. In matters exceeding the scope of ordinary management, the company is represented by two members of the management board acting jointly. The following are deemed to be matters exceeding the scope of ordinary management: a) acquisition, disposal or encumbrance of real estate, b) acquisition, disposal or encumbrance of the enterprise or an organised part thereof, c) taking out loans and borrowings, d) granting loans, sureties and guarantees, e) acquisition or disposal of fixed assets with a value exceeding PLN 1,000,000.00 (one million), f) giving consent to the company incurring an obligation or making expenditures, in a single transaction or related transactions, with a value exceeding PLN 1,000,000.00 (one million) or its equivalent in other currencies according to the average exchange rate of the National Bank of Poland applicable on the date of the transaction.