Xanfsp. z o.o.

Manner of representation

To represent the company, in the case of a one-person management board, the President of the Management Board is authorised independently. In the case of a multi-member management board, the President of the Management Board is authorised to represent the company independently. The other members of the management board are authorised to represent the company independently; however, in the case of disposing of a right or incurring a liability equivalent to an amount exceeding PLN 25,000 (twenty-five thousand zlotys) in a single transaction or, in the case of periodic performances, PLN 25,000 (twenty-five thousand zlotys) per year, as of the date on which the act is performed, the management board represents the company through one member of the management board acting together with the President of the Management Board or one member of the management board together with a commercial proxy.