Miavitsp. z o.o.

Manner of representation

The company is represented by the President and the Vice-President of the Management Board, each independently. A member of the management board represents the company independently in legal acts up to the amount of EUR 500,000.00 or its equivalent in PLN according to the average exchange rate of the National Bank of Poland applicable on the date of the given act, and in matters not exceeding the scope of ordinary management. Matters exceeding the scope of ordinary management include: incurring any loans or credits; acquisition, disposal or encumbrance of real property, an enterprise or an organised part thereof; and acquisition or disposal of fixed assets with a value exceeding PLN 20,000.00 or its equivalent in other currencies according to the average exchange rate of the National Bank of Poland applicable on the date of the given act. Unless a member of the management board has the right to independently represent the company under the provisions above, a member of the management board represents the company jointly with the President or the Vice-President of the Management Board or a commercial proxy.