Magma Industry Toruńsp. z o.o.

Manner of representation

1. In the case of a one-person management board, declarations of will on behalf of the company are made by the sole member of the management board. 2. In the case of a multi-member management board: a) the President of the Management Board is authorised to represent the company independently without amount limitations; b) the remaining members of the management board are authorised to represent the company independently in matters causing obligations to arise or involving the disposal of a right with a value not exceeding PLN 50,000 (fifty thousand zlotys); c) in the case of matters causing obligations to arise or involving the disposal of a right with a value exceeding PLN 50,000 (fifty thousand zlotys), joint action by a member of the management board with another member of the management board or a commercial proxy is required.