Text of the report
Inter Cars S.A. reports that Current Report No. 12/2013 published yesterday, which concerned resolutions adopted by the General Meeting on February 26th 2013, contained the text of Inter Cars S.A.'s consolidated Articles of Association from which item 11 in par. 16.4. was erroneously deleted.

Given below is the full text of Resolution No. 6 as recorded in the notarially certified minutes of the General Meeting held on February 26th 2013, which contains the consolidated text of Inter Cars S.A.'s Articles of Association including the previously deleted item 11 in par. 16.4. which reads as follows:
11) granting an approval to dispose of or encumber the business or an organised part of the business of Inter Cars Marketing Services Sp. z o.o., granting an approval to dispose of or encumber the industrial property rights or trade and industry marks of Inter Cars Marketing Services Sp. z o.o., granting an approval to any change in the share capital of Inter Cars Marketing Services Sp. z o.o., and granting an approval to dispose of or encumber shares in Inter Cars Marketing Services Sp. z o.o.

“Resolution No. 6 
The Extraordinary General Meeting hereby adopts the consolidated text of the Company’s Articles of Association, drawn up by notary public Andrzej Przybyła in Warsaw (Rep.  A No. 2927/99, as amended) on May 17th 1999, which incorporates the amendment made pursuant to Resolution No. 4 contained in these minutes and which reads as follows:

A R T I C L E S O F A S S O C I A T I O N 

I. GENERAL PROVISIONS
§ 1. 
The Company’s name shall be Inter Cars Spółka Akcyjna.

§ 2. 
The Company’s registered office shall be in Warsaw.

§ 3.

 

  1. The Company may operate in Poland and abroad.
  2. The Company may establish branches, affiliates and plants in Poland and outside Poland, and join other companies, cooperatives and business organisations. The Company may also acquire and dispose of shares and other equity interests in other companies.


§ 4. 
The duration of the Company shall be unlimited.

II.  BUSINESS PROFILE

Article 5 
The business of the Company shall be as follows:

  1. WHOLESALE AND RETAIL TRADE IN MOTOR VEHICLES; REPAIR OF MOTOR VEHICLES PKD 45
  2. WHOLESALE TRADE, EXCEPT OF MOTOR VEHICLES PKD 46
  3. SUPPORT ACTIVITIES TO AGRICULTURE AND POST-HARVEST CROP ACTIVITIES PKD 01.6
  4. MANUFACTURE OF PAPER STATIONERY PKD 17.23.Z
  5. PRINTING AND REPRODUCTION OF RECORDED MEDIA PKD  PKD18
  6. MANUFACTURE OF BASIC METALS PKD 24
  7. MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. PKD 28
  8. MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS, EXCEPT OF MOTORCYCLES PKD 29
  9. MANUFACTURE OF OTHER TRANSPORT EQUIPMENT PKD 30
  10. REPAIR AND INSTALLATION OF MACHINERY AND EQUIPMENT PKD 33
  11. WASTE COLLECTION, TREATMENT AND DISPOSAL ACTIVITIES; MATERIALS RECOVERY PKD 38
  12. RETAIL TRADE, EXCEPT OF MOTOR VEHICLES PKD 47
  13. LAND TRANSPORT AND TRANSPORT VIA PIPELINES PKD 49
  14. WAREHOUSING AND SUPPORT ACTIVITIES FOR TRANSPORTATION PKD 52
  15. PUBLISHING ACTIVITIES PKD 58
  16. COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES PKD 62
  17. INFORMATION SERVICE ACTIVITIES PKD 63
  18. REAL ESTATE ACTIVITIES PKD 68
  19. ACTIVITIES OF HEAD OFFICES; MANAGEMENT CONSULTANCY ACTIVITIES PKD 70
  20. ARCHITECTURAL AND ENGINEERING ACTIVITIES; TECHNICAL TESTING AND ANALYSIS PKD 71
  21. SCIENTIFIC RESEARCH AND DEVELOPMENT PKD 72
  22. ADVERTISING AND MARKET RESEARCH PKD 73
  23. OTHER PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES PKD 74
  24. RENTAL AND LEASING ACTIVITIES PKD 77
  25. EMPLOYMENT ACTIVITIES PKD 78
  26. TRAVEL AGENCY, TOUR OPERATOR RESERVATION SERVICE AND RELATED ACTIVITIES PKD 79
  27. SERVICES TO BUILDINGS AND LANDSCAPE ACTIVITIES PKD 81
  28. OFFICE ADMINISTRATIVE, OFFICE SUPPORT AND OTHER BUSINESS SUPPORT ACTIVITIES PKD 82
  29. OTHER EDUCATION N.E.C. PKD 85.59.B
  30. EDUCATIONAL SUPPORT ACTIVITIES PKD 85.60.Z
  31. REPAIR AND MAINTENANCE OF COMPUTERS AND PERIPHERAL EQUIPMENT PKD 95.11.Z”


If a licence or permit is required under other regulations to launch a business activity, the Company shall obtain the licence or permit prior to commencing the activity, or shall fulfil other statutory requirements which are specified for a given activity.

III.   SHARE CAPITAL
§ 6.

  1. The Company’s share capital shall amount to no more than PLN 27,472,200 (twenty-seven million, three hundred and ninety-two thousand, two hundred złoty) and shall be divided into no more than 13,736,100 (thirteen million, seven hundred and thirty-six thousand, one hundred) shares with a par value of PLN 2 (two złoty) per share, including:
    1. 200,000 (two hundred thousand) Series A bearer shares numbered from 000001 to 200000,
    2. 7,695,600 (seven million, six hundred and ninety-five thousand, six hundred) Series B bearer shares numbered from 00200001 to 7895600,
    3. 104,400 (one hundred and four thousand, four hundred) Series C ordinary bearer shares numbered from 7895601 to 8000000,
    4. 2,153,850 (two million, one hundred and fifty-three thousand, eight hundred and fifty) Series D bearer shares numbered from 8000001 to 10153850,
    5. 1,667,250 (one million, six hundred and sixty-seven thousand, two hundred and fifty) Series E bearer shares numbered from 10153851 to 11821100,
    6. no more than 1,875,000 (one million, eight hundred and seventy-five thousand) Series G bearer shares numbered from 11821101 to 13696100.
  2. Bearer shares may not be converted into registered shares.
  3. The Company’s conditional share capital shall amount to no more than PLN 944,000 (nine hundred and forty-four thousand złoty) and shall comprise no more than 157,333 (one hundred and fifty-seven thousand, three hundred and thirty-three) Series F1 ordinary bearer shares, no more than 157,333 (one hundred and fifty-seven thousand, three hundred and thirty-three) Series F2 ordinary bearer shares and no more than 157,334 (one hundred and fifty-seven thousand, three hundred and thirty-four) Series F3 ordinary bearer shares with a par value of PLN 2.00 (two złoty) per share.

§ 7. 
All Shareholders shall have the pre-emptive rights to acquire new shares in proportion to the number of shares held, unless the General Meeting waives the Shareholders’ pre-emptive rights in full or in part.

§ 8.

  1. Shares may be retired by way of reducing of the share capital.
  2. The manner and terms of retirement of shares shall be specified in each case by a resolution of the General Meeting.


§ 9. 
The founders of the Company are:

  1. Krzysztof Teofil Oleksowicz,
  2. Piotr Tadeusz Oleksowicz,
  3. Andrzej Aleksander Oliszewski.

IV. GOVERNING BODIES

§ 10. 
The Company’s governing bodies shall be:

  1.  the Management Board,
  2. the Supervisory Board,
  3. the General Meeting.


A. MANAGEMENT BOARD
§ 11.

  1. The Management Board shall be composed of two to nine members appointed and removed from office by way of a resolution of the Supervisory Board, except for the first Management Board, which was appointed under the deed of incorporation of the Company.
  2. The term of the Management Board shall be 3 (three) years, except for the first Management Board, whose term shall be 1 (one) year. Members of the Management Board shall be appointed for a joint term of office.
  3. The Management Board shall manage the Company’s affairs and represent it in and out of court.
  4. All matters not reserved for the General Meeting or the Supervisory Board under these Articles of Association or other applicable laws shall fall within the scope of powers and responsibilities of the Management Board.
  5. The Management Board shall manage the Company’s assets and rights to a standard of care required in commercial activity and in strict compliance with applicable laws.
  6. Resolutions of the Management Board shall be adopted by a majority of votes. In the event of a tied vote, the President of the Management Board shall have the casting vote. The scope of rights and duties of the Management Board and the manner of its work shall be defined by the Rules of Procedure for the Management Board. The Rules of Procedure for the Management Board shall be adopted by the Management Board and approved by the Supervisory Board.
  7. The terms of remuneration of members of the Management Board shall be established by the Supervisory Board.



B. SUPERVISORY BOARD
§ 12.

  1. The Supervisory Board shall be composed of five to thirteen members appointed by the General Meeting. The General Meeting shall appoint the Chairman of the Supervisory Board. From among the remaining Supervisory Board members, the Supervisory Board shall appoint the Deputy Chairman.
  2. The number of Supervisory Board members shall be determined by the General Meeting. In the event of block voting, the Supervisory Board shall be composed of thirteen members.
  3. The term of the Supervisory Board shall be five years. All members of the Supervisory Board shall be appointed for a joint term of office.
  4. Members of the Supervisory Board may be reappointed for subsequent terms.


§ 13.

  1. Resolutions of the Supervisory Board shall be adopted by an absolute majority of votes with at least half of the members of the Supervisory Board present. Resolutions of the Supervisory Board shall only be valid if all members of the Supervisory Board have been invited to the meeting.
  2. Meetings of the Supervisory Board shall be held at least once a quarter. Meetings shall be convened by means of a written notice specifying the venue, time, and proposed agenda for the meeting, which shall be delivered to all members of the Supervisory Board at least 7 (seven) days prior to the date of the meeting. Meetings of the Supervisory Board shall be convened by the Chairman of the Supervisory Board on the Chairman’s own initiative or upon request of a member of the Supervisory Board.
  3. Resolutions of the Supervisory Board may be adopted without convening a meeting of the Supervisory Board – in writing or with the use of means of remote communication, provided that all members of the Supervisory Board have been informed about the content of the draft of a given resolution and have consented to such manner of voting.
  4. A resolution of the Supervisory Board on suspending individual members of the Management Board from duties for valid reasons and a resolution on delegating a member of the Supervisory Board to temporarily perform the duties of a member of the Management Board shall be adopted by a majority of 4/5 (four fifths) of the votes cast, with at least 4/5 (four fifths) of the members of the Supervisory Board present.


§ 14.

  1. The Supervisory Board shall exercise supervision over the Company’s activities in the manner stipulated by the Commercial Companies Code, these Articles of Association, and the Rules of Procedure for the Supervisory Board adopted by the General Meeting.
  2. Matters reserved for the Supervisory Board shall include in particular:
    1. assessment of the Company’s financial statements,
    2. assessment of the Directors’ Report and the Management Board’s proposals on the distribution of profit or coverage of loss, and submission of annual reports on the assessment results to the General Meeting,
    3. appointment of an auditor to audit the Company’s financial statements on the basis of proposals received by the Management Board,
    4. appointment and removal from office of members of the Management Board,
    5. appointment from among members of the Management Board of the President of the Management Board, and optionally a Vice-President of the Management Board,
    6. execution of contracts with members of the Company’s Management Board,
    7. determination of the terms of remuneration of members of the Company’s Management Board,
    8. approval of disposal or acquisition of real property, perpetual usufruct right or interest in real property.

§ 15. 
Members of the Supervisory Board may receive remuneration for their work on the Supervisory Board. The remuneration of individual members of the Supervisory Board shall be established by the General Meeting.

 C. General Meeting
§ 16.

  1. The General Meeting shall be the Company’s supreme governing body.
  2. The General Meeting shall act pursuant to the Commercial Companies Code and Rules of Procedure adopted by the General Meeting.
  3. The powers of the General Meeting shall cover matters stipulated in the Commercial Companies Code, excluding matters which these Articles of Association reserve for other bodies of the Company.
  4. The following matters shall require a resolution of the General Meeting:
    1. increase or reduction of the Company’s share capital, creation, increase and use of other funds, accounts and reserves,
    2. issue of convertible bonds and bonds with pre-emptive rights,
    3. amendments to these Articles of Association,
    4. retirement of shares,
    5. disposal of the Company’s business or its organised part,
    6. liquidation, division, merger, dissolution, and transformation of the Company,
    7. distribution of profit, coverage of loss, and establishment of capital reserves,
    8. appointment and removal from office of members of the Supervisory Board,
    9. approval of the Rules of Procedure for the Supervisory Board,
    10. determination of the terms of remuneration of members of the Supervisory Board, including amounts of remuneration for members of the Supervisory Board delegated to individually perform certain supervisory functions on a continuous basis,
    11. granting an approval to dispose of or encumber the business or an organised part of the business of Inter Cars Marketing Services Sp. z o.o., granting an approval to dispose of or encumber the industrial property rights or trade and industry marks of Inter Cars Marketing Services Sp. z o.o., granting an approval to any change in the share capital of Inter Cars Marketing Services Sp. z o.o., and granting an approval to dispose of or encumber shares in Inter Cars Marketing Services Sp. z o.o.
    5. 5.    Acquisition or disposal of real property, a perpetual usufruct right or interest in real property shall not require the General Meeting’s approval.

§ 17. 
A General Meeting shall be convened by the Management Board or – in circumstances and in the manner specified in the Commercial Companies Code – by other entities. A General Meeting may be held in the Company’s registered office, or in Cząstków Mazowiecki (Czosnów Commune, Province of Warsaw), or in Kajetany (Nadarzyn Commune, Province of Warsaw).

§ 18. 
Unless the Commercial Companies Code or these Articles of Association stipulate stricter terms, resolutions of the General Meeting shall be adopted by an absolute majority of the votes cast.

V. INTERNAL MANAGEMENT AT THE COMPANY
§ 19.

  1. The Company shall establish statutory reserve funds in accordance with the relevant provisions of the Commercial Companies Code, as well as other reserves (funds) as required by law. The Company may establish other capital reserves (funds) pursuant to resolutions of the General Meeting.
  2. The amount of contributions to these funds, as well as the manner of their use and release, shall be determined by the General Meeting.

§ 20. 
The Company’s financial year shall correspond to the calendar year.

§ 21. 
The General Meeting may allocate the Company’s net profit to:

  1. statutory reserve funds,
  2. dividend,
  3. other capital reserves (funds) or special accounts established at the Company,
  4. other purposes specified by a resolution of the General Meeting.


§ 22. 
The Management Board shall execute a contract with an entity appointed by the Supervisory Board to audit the Company’s financial statements.

§ 23.

  1. The Company shall publish all its announcements required by law in the official gazette Monitor Sądowy i Gospodarczy.
  2. Any matters not provided for in these Articles of Association shall be governed by applicable provisions of the Commercial Companies Code.

The resolution was adopted in an open vote. All votes cast in exercise of the voting rights attached to the 9,100,246 shares participating in the vote (which represented 64.23% of the Company’s share capital, comprising a total of 14,168,100 shares) were valid. Accordingly, the total number of valid votes cast was 9,100,246, with 9,100,246 votes in favour of the resolution, no votes against, no abstentions and no objections by dissenting shareholders.
 

Legal basis
Art. 56.1.2 of the Public Offering Act – current and periodic information

Persons representing the company
  • Robert Kierzek - President of the Management Board
  • Krzysztof Soszyński - Vice-President of the Management Board

 

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