Frank DozerS.A.

Manner of representation

In the case of a one-person management board, the sole member of the management board is authorised to represent the company independently. In the case of a multi-member management board, the company is represented as follows: 1. by each member of the management board acting independently, in the case of legal transactions involving the acquisition of a right or the incurring of a liability with a total value not exceeding PLN 20,000 (twenty thousand zlotys); 2. by two members of the management board acting jointly, or by a member of the management board acting jointly with a commercial proxy, in the case of legal transactions involving the acquisition of a right or the incurring of a liability with a total value exceeding PLN 20,000 (twenty thousand zlotys). In the case of a multi-member management board, in cases other than those indicated above, joint action by two members of the management board or by one member of the management board jointly with a commercial proxy is required to submit declarations on behalf of the company.