Limblachsp. z o.o.

Manner of representation

The President of the Management Board is authorized independently to make declarations on behalf of the company and incur obligations, whereas the remaining members of the management board are entitled to make declarations and incur obligations independently in matters within the scope of ordinary management, and in matters exceeding the scope of ordinary management jointly with a second member of the management board or jointly with a commercial proxy. Matters exceeding the scope of ordinary management include in particular: a) disposing of, acquiring or encumbering real property or the right of perpetual usufruct; b) signing long-term commercial and credit agreements and other financial agreements; c) disposing of assets and incurring obligations other than those listed above with a gross value exceeding PLN 10,000.00; d) hiring or dismissing employees.