Based on § 12 para. 1 point 12 of the Ordinance of the Minister of Finance of 29 March 2018 regarding current and periodic information provided by issuers of securities and conditions for recognizing information required by the law of a non-member state as equivalent, the Management Board of ENERGOINSTAL SA provides a response under Art. 428 of the Commercial Companies Code to the questions of one of the shareholders, filed at the Ordinary General Meeting of the Company on June 25, 2018. with the following content:
I. the method of exercising ownership supervision over subsidiaries of the capital group,
II. actions taken by the Management Board in the subsidiary "Interbud- West" Sp. z o.o.,
The Management Board of Energoinstal S.A. gives the following answer:
I. Corporate governance in subsidiaries of the Energoinstal S.A. Capital Group.
was performed based on the provisions of the Commercial Companies Code and articles of association, taking into account, appointment or not, in a given company of the Supervisory Board.
In 2017, owner's supervision in subsidiaries of the Capital Group
Energoinstal S.A. was exercised by:
- participation in the company's meetings and exercising the voting right in the adoption of shareholder resolutions,
- control activities carried out at the request of the shareholder in the mode of art.212 § 1 of the Commercial Companies Code.
In 2017, changes were made to management boards of companies: Energoinstal sp. o.o., P.B.U. "Interbud-West" Sp. z o.o., ENITECH TL Sp. z o.o.
II. In 2017, the Management Board of Energoinstal S.A., as the representative of the shareholder -
Energoinstal S.A. in the subsidiary PBU "Interbud- West" Sp. z o.o., acting in accordance with the provisions of the Code of Commercial Companies, carrying out the activities of corporate governance, conducted controls in the company, as well as participated in the company's meetings and exercised the right to vote on the resolutions of shareholders.
As part of control activities in 2017 at the express request of the Management Board
Energoinstal S.A. three audit audits took place.
All companies of the Energoinstal SA Capital Group, as part of the Corporate Governance Rules of the Energoinstal SA Capital Group, were required to submit the following documents:
- sales and marketing plans,
- budgets for implemented contracts,
- financial reports (monthly, quarterly, semi-annual and annual), which werethen analyzed and formed the basis for the Management Board of Energoinstal S.A. corporate governance activities in subsidiaries of the Energoinstal SA Capital Group. In addition, it should be pointed out that supervisory activities in subsidiaries of the Energoinstal S.A. Capital Group. they were also implemented by representatives of Energoinstal S.A. in Supervisory Boards of these subsidiaries.
Source: company website, investor relations, current and periodic reports.