The principles of corporate governance
In accordance with the WSE Rules, the Play Communications S.A. (the “Issuer”) as a public company listed on the Warsaw Stock Exchange should observe the principles of corporate governance set out in the WSE Best Practices 2016. The content of WSE Best Practices 2016 is available on the website: https://www.gpw.pl/pub/GPW/o-nas/DPSN2016_EN.pdf. The WSE Best Practices is a set of recommendations and rules of procedure for governing bodies of publicly-listed companies and their shareholders. The WSE Rules and resolutions of the WSE management board and its council set forth the manner in which publicly-listed companies disclose information on their compliance with corporate governance rules and the scope of information to be provided. If a certain rule is not complied with by a publicly-listed company on a permanent basis or has been breached incidentally, such publicly-listed company is required to disclose this fact in the form of a current report. In a corporate governance structure of the Group, the Issuer’s Board has the supervisory function and the Management Board of the operating company P4 sp. z o.o. (the “P4”) has day-to-day management functions. With respect to the above, the WSE Best Practices 2016 with regards to the duties of the public companies management and supervisory boards are applied respectively by the P4’s Management Board in relation to the duties of the management board and by the Issuer’s Board in relation to the duties of the supervisory board.