Poland: new reporting rules for listed companies

The reporting rules for listed companies are to change again from 3 August 2009, following earlier changes introduced on 15 March 2009.

The changes reflect amendments to the Commercial Companies Code and will require notice convening shareholders’ meetings:

• to be given at least 26 days in advance
• to include drafts of resolutions to be adopted at the meeting or (where no resolutions are to be adopted) the management or supervisory board’s comment on agenda items
• to explain the procedure for remote participation and voting
• to give details of shareholders’ rights to propose amendments to the agenda and draft resolutions (before and at the meeting)
• to refer to sources of information about the shareholders’ meeting (including website)
• to set out the record date

Other changes require:

• notices of planned or completed cross-border mergers to set out the rationale for the merger and the merger plan
• notice of the revised agenda where amendments are made at a shareholder’s request to be given at least 18 days’ before the shareholders’ meeting
• notice of resolutions adopted to be submitted promptly and within 24 hours after the shareholders’ meeting

Law: Project of Regulation of the Minister of Finance dated 28 May 2009 amending the Regulation of the Minister of Finance dated 19 February 2009 (J.L. no. 33, item 259)