COMMUNIQUÉ

COMMUNIQUÉ
of the Warsaw Stock Exchange Management Board
dated 6 December 2022 

The Exchange Management Board announces that the Exchange Supervisory Board and the Exchange Management Board have adopted amendments to the Joint Position of the Supervisory Board and the Management Board of the Warsaw Stock Exchange dated 17 December 2018 concerning rules of public trading on the exchange (“Joint Position”).

A provision has been added to section III of the Joint Position whereby issuing shares at a preferential price is not considered to be in conflict with the rules of public trading on the exchange where at least two years have passed since the date of the decision setting the issue price of the shares. As a result, upon the expiry of the two-year waiting period, the Exchange Management Board will admit/introduce shares which were considered, due to their issue price, to have been issued in conflict with the rules of public trading on the exchange, unless it is not possible due to the safety of exchange trading or the interest of its participants.

Irrespective of the foregoing, the Exchange Management Board may at any time admit/introduce shares to trading if the conditions referred to in sections II.1 – II.4 of the Joint Position are met where it is justified, in the opinion of the Exchange Management Board, by the nature and size of the issue, a particular legitimate interest of the issuer or a particular legitimate interest of its shareholder. In any case, the decision will be made on a case-by-case basis by the Exchange Management Board based on its assessment of all circumstances with a view to the safety of exchange trading and the interest of its participants.

The amendments to the Joint Position come into force on 1 January 2023.

Enclosed please find the consolidated text of the Joint Position of the Supervisory Board and the Management Board of the Warsaw Stock Exchange dated 17 December 2018 (as amended) concerning rules of public trading on the exchange.  

Joint Position of the Supervisory Board and the Management Board  of the Warsaw Stock Exchange dated 17 December 2018 (as amended)