The share capital of Warsaw Stock Exchange amounts to PLN 41,972,000 and is divided into 41,972,000 shares with a nominal value of PLN 1 (one) per share. The shares include series A preferred registered shares (one share gives two votes) and series B ordinary bearer shares.
Holders of series A preferred registered shares may convert series A shares to series B ordinary bearer shares. The Company’s Articles of Association impose no restrictions on the conversion of registered shares to bearer shares. Conversion of preferred registered shares to ordinary bearer shares results in a change of the number of votes conferred by each share from two votes to one vote per share. There were no changes to the number of shares and votes in 2014.
WSE has no information as to agreements which could result in any changes in the future in respect of the proportions in shares held by the existing shareholders.
|Shareholder||Stake in the share capital||Votes at the General Meeting|
|Number of shares||Stake||Number of votes||Stake|
State Treasury of the Republic of Poland
- preferred shares (series A)
|14 688 470||35.00%||29 376 940||51.74%|
- preferred shares (series A)
|119 000||0.28%||238 000||0.42%|
- bearer shares (free float; series B)
|27 164 530||64.72%||27 164 530||47.84%|
|Total||41 972 000||100.00%||56 779 470||100%|
 A registered shares held by the State Treasury of the Republic of Poland and other shareholders of Warsaw Stock Exchange before its public offering (banks, brokers, issuers) are preferred in that one share gives two votes at the General Meeting.
As at 31 December 2014, and as at the date of preparation of this Report, to the Company’s best knowledge, the State Treasury of the Republic of Poland was the only shareholder holding directly or indirectly at least 5% of the overall number of votes at the General Meeting.
In addition, according to the ING OFE portfolio structure, the fund held 2,373,122 WSE shares at the end of 2014, representing 5.65% of total shares and 4.18% of all votes at the General Meeting.
As at 31 December 2014, and as at the date of preparation of this Report, to the best knowledge of the Company, the State Treasury of the Republic of Poland held 14,688,470 series A registered shares (preferred as to vote) representing 35.00% of total shares and conferring the right to 29,376,940 votes at the General Meeting representing 51.74% of all votes at the General Meeting.
The remaining series A shares (119,000; 0.28% of all shares; 238,000 votes at the General Meeting representing 0.42% of all votes at the General Meeting) were mainly held by brokerage houses and banks.
Amongst all persons managing and supervising the Company, its shares bought in public offering (25 shares) were held as at the balance-sheet date by:
- Dariusz Kułakowski, Vice-President of the Management Board,
- Wiesław Rozłucki, Chairman of the Exchange Supervisory Board
According to the Company’s best knowledge, persons currently managing and supervising the Company do not hold shares in its subsidiaries or associates.
The Company did not purchase its own shares in 2014.
The Company has no employees share scheme; accordingly, it has no control system for an employees share scheme.