Convening of the General Meetings
General Meetings of Shareholders are convened in accordance with the applicable laws and the provisions of the Bank's Statute, which are consistent with the law.
Annual General Meetings of Shareholders are convened by the Bank's Management Board. They should be held no later than in June. The Bank's Supervisory Board is entitled to convene the Annual General Meeting if the Management Board has failed to do so by the prescribed time.
Extraordinary General Meetings of Shareholders are convened when needed, either by the Bank's Management Board acting on its own initiative, or upon the Supervisory Board's request. A shareholder or shareholders representing at least one twentieth of the share capital may request that an Extraordinary General Meeting of Shareholders be convened and specific items be placed on its agenda. An Extraordinary General Meeting may also be called by the Supervisory Board, if it deems it advisable, or by shareholders representing at least a half of the share capital or at least a half of the total vote at the Bank.
Announcement on convening of the General Shareholders Meeting is published at the Bank's website latest twenty-six days before the proposed day of the General Meeting and in the manner prescribed for disclosing current reports in accordance with the Act of July 29, 2005 on Public Offering, Conditions Governing Introduction of Financial Instruments to Organised Trading, and on Public Companies.
As prescribed by the Commercial Companies Code, on the same day on which the convening of a General Shareholders Meeting of the Bank is announced – all documents to be submitted to the General Shareholders Meeting, including draft resolutions, are also published at the Bank's website.
All matters submitted for consideration to the General Meeting must have the Supervisory Board's recommendation. Pursuant to Section 9 of the Bank's Statute, all matters proposed to be debated by the General Meeting of Shareholders should be first submitted for the Supervisory Board's consideration.
General Meetings of Shareholders are attended by members of the Bank's Supervisory and Management Boards, who provide shareholders with any desired explanations and information. The Bank's external auditor is obliged to attend the Annual General Meeting, as well as Extraordinary General Meetings convened to deal with the company's finances, including to review and approve the Bank's financial statements, the report on the Bank's operations, the consolidated financial statements of the Bank's Group and the report on the operations of the Bank's Group.