Exchange Rules (Communiqué)

COMMUNIQUÉ
of the Warsaw Stock Exchange Management Board
dated 15 December 2023

The Exchange Management Board announces that the Polish Financial Supervision Authority (KNF) has approved amendments to the Exchange Rules adopted by Resolution No. 56/2043/2023 of the Warsaw Stock Exchange Supervisory Board dated 31 August 2023.

The amendments to the Exchange Rules concern some of the fees referred to in Exhibits 2 and 3 to the Exchange Rules charged to issuers of shares on the GPW Main Market and to issuers of debt financial instruments on the Catalyst regulated market.

The amendments aim at optimising the rates and the rules of charging fees in such a way as to make the fee structure more understandable for issuers of financial instruments already listed and more attractive for potential issuers. At the same time, the amendments aim to improve GPW’s competitive position vis-à-vis European equity and bond markets.

The amendments to Exhibits 2 and 3 to the Exchange Rules come into force on 1 January 2024, with the proviso that the rates of annual fees for listing shares on the parallel market will gradually increase over the next 3 years. 

Furthermore, the Exchange Management Board announces the adoption of Resolution No. 1400/2023 of the Warsaw Stock Exchange Management Board dated 15 December 2023 concerning the reduction of certain exchange fees charged to issuers on the GPW Main Market. The resolution introduces temporary reductions of annual listing fees for shares on the GPW Main Market. According to the adopted rules, the amount of the reduction will depend on the increase in the turnover of shares of the company in the last year in relation to the average annual turnover of its shares in the previous five years (taking into account the turnover of all shares of that company on the GPW Main Market and on the NewConnect market in a given period).

The fee reductions will take effect on 1 January 2024.

Enclosures:

1. Resolution No. 56/2043/2023 of the Warsaw Stock Exchange Supervisory Board dated 31 August 2023 amending the Exchange Rules;
2. Resolution No. 1400/2023 of the Warsaw Stock Exchange Management Board dated 15 December 2023 concerning the reduction of certain exchange fees charged to issuers on the GPW Main Market.