Cantinosp. z o.o.

Manner of representation

In the case of a one-person management board, the President of the Management Board is authorised to make declarations of will and sign documents on behalf of the company independently. In the case of a multi-member management board, each member of the management board is authorised independently exclusively with respect to incurring liabilities and disposing of rights: a) one-off liabilities or disposals with a value not exceeding PLN 50,000.00 gross (in words: fifty thousand zlotys) or b) continuous or periodic liabilities or disposals whose total value of the company’s performances during the following twelve months does not exceed PLN 50,000.00 gross (in words: fifty thousand zlotys). Incurring liabilities and disposing of rights on behalf of the company exceeding the values referred to in the preceding sentence requires joint action by two members of the management board or joint action by a member of the management board together with a commercial proxy. In the case of a liability whose value is unspecified or impossible to determine unequivocally at the time of performing the act, as well as in the case of judicial acts, it is assumed that joint representation by two members of the management board or by one member of the management board jointly with a commercial proxy is required.