The Group has decided to observe the majority of the WSE Corporate Governance Rules. However, certain principles will apply to the Issuer only to the extent allowed by Luxembourg corporate law and corporate structure of KSG Group, especially the single board structure as opposed to the two-tier system that the WSE Corporate Governance Rules assume. The Group does not have two separate governing bodies (supervisory board and management board) which are obligatory in Polish joint stock companies. Instead, its Board of Directors performs both the management and supervisory functions. As a result, the Group will apply those principles of the WSE Corporate Governance Rules which refer to relations between supervisory board and management board not directly, but accordingly.
Corporate Governance Rules