We kindly remind you that due to the fact that from 3 August 2009 amendments to the Commercial Companies Code came into force, there is no obligation of share blocking before the general assembly.
Pursuant to amendments to the Commercial Companies Code a shareholder of a public company is entitled to receive a registered certificate of entitlement to attend the general assembly of a public company. The right to participate in the general assembly of a public company have only persons being shareholders of the company 16 days prior to the date of the general assembly (the date of registration of participation in the general assembly, so called a record date). Issuing the certificate does not require blocking shares on the investment account. Thus, in practice there is the possibility of selling shares even before commencement of the general assembly, i.e. 15 days prior to the commencement of debates. Obligation to take into account the date of registration of securities with the National Deposit for Securities (T+3 system) lies with each shareholder individually.
Instruction to issue the registered certificate should be submitted to the brokerage house in the period between the date of publication of notification of convocation of the general assembly (26 days prior to the commencement of debates) and the next working day falling after the record date (15 days prior to the commencement of debates). Appropriate information about the right to participate in the general assembly shall be sent by the brokerage house to the National Deposit for Securities and then to the company. Regulations do not impose the obligation to collect the registered certificate and present it on the day of the general assembly, in practice holding such an original may turn out to be helpful. Collection of the original copy the certificate should not be connected with any additional costs.
Introduction of registered certificates of entitlement to attend the general assembly, contrary to the general opinion does not completely eliminate deposit certificates. Issuing the deposit certificate and blocking of shares on the investment account connected with it, are still possible. Nevertheless the deposit certificate stops being the document entitling to participate in the general assembly and it can be required only in case of exercising rights other than participation in the general assembly.