43/2017 Appointment of the Audit Committee

CPD Board of Directors S.A. (The “Company”) hereby informs that on 23 November 2017 it was notified that the Supervisory Board of the Company, acting pursuant to Art.128 and 129 of the Act of 11 May 2017 on statutory auditors, audit firms and public oversight (Journal of Laws of 2017, item 1089) established an Audit Committee composed of:

• Wiesław Oleś – Chairman of the Audit Committee (independent member)
• Mirosław Gronicki – Member of the Audit Committee (independent member)
• Andrew Pegge – Member of the Audit Committee

So far, the tasks of the Audit Committee, pursuant to art. 128 sec. 4, item 4) of the Act on statutory auditors, audit firms and public oversight, was completed by the Supervisory Board.

The Audit Committee in the indicated composition meets the independence criteria and other requirements specified in art. 129 sec. 1.3.5 and 6 of the Act on statutory auditors, audit firms and public oversight, ie:

a)   at least one member of the Audit Committee has knowledge and skills in accounting or auditing,

b)   at least one member of the Audit Committee has knowledge and skills in the field of the Company,

c)   the majority of the members of the Audit Committee, including its Chairman, are independent of the Company.

In line with the detailed rule II.Z.8 of the “Best Practices for WSE Listed Companies 2016”, the Chairman of the Audit Committee fulfills the criteria of independence contained in the Appendix.

 

Legal basis:

Art. Article 17 Regulation MAR

 

Signatures of persons representing the Company:

Elżbieta Wiczkowska, President of the Board, 23^rd of November 2017