ANNOUNCEMENT ON CONVENING THE ORDINARY GENERAL MEETING OF BANK POLSKA KASA OPIEKI SPÓŁKA AKCYJNA  FOR THE FISCAL YEAR 2019

Legal basis:
Article 56 sec. 1 p. 2 Acts on the offer - current and periodic information.

Report content:
Bank Polska Kasa Opieki Spółka Akcyjna ("the Bank") provides the information contained in the announcement on convening the Ordinary General Meeting of the Bank and the content of draft resolutions (including attachments) to be discussed at that Meeting.

ANNOUNCEMENT ON CONVENING THE ORDINARY GENERAL MEETING OF BANK POLSKA KASA OPIEKI SPÓŁKA AKCYJNA FOR THE FISCAL YEAR 2019

 

The Management Board of Bank Polska Kasa Opieki Spółka Akcyjna with its registered office in Warsaw, ul. Grzybowska 53/57, 00-950 Warsaw, entered in the Register of Entrepreneurs kept by the District Court for the Capital City of Warsaw, 12th Commercial Division of the National Court Register (KRS), under no. KRS 0000014843, entry in the KRS on 2 July 2001 (hereinafter referred to as “Bank”), acting pursuant to Article 395 § 1, Article 399 § 1, Article 402 (1) and Article 402 (2) of the Commercial Companies Code in connection with § 8 paragraph 1 and 2 of the Statute of Bank Polska Kasa Opieki Spółka Akcyjna, hereby convenes the Ordinary General Meeting of Shareholders of the Bank for the financial year 2019.

The total number of the Bank's shares as at the announcement date is 262,470,034 and corresponds to 262,470,034 votes.

I. THE DATE, TIME AND PLACE OF THE ORDINARY GENERAL MEETING OF SHAREHOLDERS OF THE BANK AND DETAILED AGENDA

The Management Board of the Bank hereby convenes the General Meeting of Shareholders of the Bank for the financial year 2019 on 22 May 2020 at 11.00 a.m. in Warsaw, ul. Żwirki i Wigury 31, in Building B of the Lipowy Office Park complex, with the following agenda:
1. Opening of the Ordinary General Meeting of Shareholders of Bank Polska Kasa Opieki Spółka Akcyjna.
2. Election of the Chairperson of the Ordinary General Meeting of Shareholders of Bank Polska Kasa Opieki Spółka Akcyjna.
3. Statement of the correctness of convening of the Ordinary General Meeting of Shareholders of Bank Polska Kasa Opieki Spółka Akcyjna.
4. Election of the Returning Committee.
5. Adopting the agenda of the Ordinary General Meeting of Shareholders of Bank Polska Kasa Opieki Spółka Akcyjna.
6. Review of the Report of the Management Board of the Bank on the operations of Bank Pekao S.A. for the year 2019.
7. Review of the Stand-alone Financial Statement of Bank Pekao S.A. for the year ended on 31 December 2019.
8. Review of the Report of the Management Board of the Bank on the operations of Bank Pekao S.A. Capital Group for the year 2019.
9. Review of the Consolidated Financial Statements of Bank Pekao S.A. Capital Group for the year ended on 31 December 2019.
10. Review of the proposal of the Management Board of the Bank concerning the distribution of net profit of Bank Polska Kasa Opieki Spółka Akcyjna for the year 2019.
11. Review of the Report of the Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna
on its activity in the year 2019 and on the results of the assessment of: reports on the activities of Bank Polska Kasa Opieki S.A. and of the Capital Group Bank Polska Kasa Opieki Spółka Akcyjna in the year 2019, the financial statements of Bank Polska Kasa Opieki Spółka Akcyjna and of the Capital Group Bank Polska Kasa Opieki Spółka Akcyjna for the year ended on 31 December 2019.

12. Adopting resolutions on:
1) approval of the Report of the Management Board of the Bank on the operations of Bank Pekao S.A. for the year 2019,
2) approval of the Stand-Alone Financial Statement of Bank Pekao S.A. for the year ended on 31 December 2019,
3) approval of the Report of the Management Board of the Bank on the operations of Bank Pekao S.A. Capital Group for the year 2019,
4) approval of the Consolidated Financial Statements of Bank Pekao S.A. Capital Group for the year ended 31 December 2019,
5) distribution of net profit of Bank Polska Kasa Opieki Spółka Akcyjna for the year 2019,
6) approval of the Report on the activities of the Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna in the year 2019,
7) granting discharge to members of the Management Board of Bank Polska Kasa Opieki Spółka Akcyjna for the performance of their duties in the year 2019,
8) granting discharge to members of the Supervisory of Board of Bank Polska Kasa Opieki Spółka Akcyjna for the performance of their duties in the year 2019,
9) granting discharge to members of the Management Board of Centralny Dom Maklerski Pekao Spółka Akcyjna, a company partially demerged into Bank Polska Kasa Opieki S.A., for the performance of their duties in the year 2019,
10) granting discharge to members of the Supervisory Board of Centralny Dom Maklerski Pekao Spółka Akcyjna, a company partially demerged into Bank Polska Kasa Opieki Spółka Akcyjna, for the performance of their duties in the year 2019.
13. Report on the evaluation of the functioning of the Remuneration Policy of Bank Polska Kasa Opieki Spółka Akcyjna in the year 2019 and the adoption of a resolution on this matter.
14. Adoption of the “Remuneration Policy for Members of the Supervisory Board and the Management Board of Bank Polska Kasa Opieki Spółka Akcyjna”.
15. Presentation by the Supervisory Board of the Report on the assessment of the application by Bank Polska Kasa Opieki Spółka Akcyjna in 2019 of the Corporate Governance Principles for Supervised Institutions issued by the Polish Financial Supervision Authority on 22 July 2014 and the manner in which Bank Polska Kasa Opieki Spółka Akcyjna fulfils its disclosure obligations regarding the application of corporate governance principles set out in the Stock Exchange Rules.
16. Adoption of resolutions on the dismissal of Members of the Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna and appointment of Members of the Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna for a new joint term of office, taking into account the assessment of compliance with the suitability requirements.
17. Consideration of the proposal and adoption of a resolution to amend the Statute of Bank Polska Kasa Opieki Spółka Akcyjna.
18. Closing of the Ordinary General Meeting of Shareholders of Bank Polska Kasa Opieki Spółka Akcyjna.

II. DATE OF REGISTRATION OF PARTICIPATION IN THE ORDINARY GENERAL MEETING OF SHAREHOLDERS OF THE BANK AND INFORMATION ON THE RIGHT TO PARTICIPATE IN THE ORDINARY GENERAL MEETING OF SHAREHOLDERS OF THE BANK

The date of registration of participation in the Ordinary General Meeting of Shareholders of the Bank falls sixteen days before the date of the Ordinary General Meeting (registration date), i.e. on 6 May 2020. Only persons who are Shareholders of the Bank on 6 May 2020, i.e. on the date of registration of their participation in the Ordinary General Meeting of Shareholders have the right to participate in the Ordinary General Meeting.

At the request of a holder of dematerialised bearer shares of the Bank, submitted not earlier than after the announcement of convening the Ordinary General Meeting of Shareholders, no later than on the first business day after the registration date, i.e. no later than on 7 May 2020, the entity maintaining the securities account shall issue a personal certificate of the right to participate in the Ordinary General Meeting.

The Management Board determines the list of Shareholders authorised to participate in the General Meeting on the basis of the list prepared by Krajowy Depozyt Papierów Wartościowych S.A. pursuant to the provisions on trading in financial instruments.

III. PROCEDURES CONCERNING PARTICIPATION IN THE ORDINARY GENERAL MEETING OF SHAREHOLDERS OF BANK POLSKA KASA OPIEKI SPÓŁKA AKCYJNA AND EXERCISE OF VOTING RIGHTS

1. Information on the Shareholder's right to demand that certain matters be put on the agenda of the Ordinary General Meeting.

A Shareholder or Shareholders representing at least one-twentieth of the total share capital of the Bank may request specific matters to be included in the agenda for the upcoming Ordinary General Meeting. The request of the Shareholder(s) should be submitted to the Bank's Management Board not later than twenty-one days before the scheduled date of the Ordinary General Meeting, i.e. not later than 1 May 2020.

The request must include a statement of reasons or a draft resolution concerning the proposed item of the agenda.

The request may be submitted in writing (i.e. delivered in person against confirmation of submission or sent to the Bank against confirmation of dispatch and acknowledgement of receipt) to the address: Bank Polska Kasa Opieki Spółka Akcyjna, Zespół Obsługi Organów Korporacyjnych (Corporate Bodies Service Team), ul. Żwirki i Wigury 31, 02-091 Warszawa or in electronic form (e-mail) by sending an e-mail to the e-mail address: wz@pekao.com.pl.

The appropriate date of submission of the above request will be evidenced by the date of its receipt by the Bank, and in the case of using the electronic form, the date of placing the above request in the Bank's electronic mail system (receipt at the Bank's mail server). The above request may be made by means of a properly completed and signed form downloaded from the Bank's website, however, if the electronic form is used, it is required to send the form and any attached documents as attachments in PDF format.

The Shareholder(s) requesting the inclusion of certain matters in the agenda of the Ordinary General Meeting must present, together with the request, documents confirming their identity and the right to request the inclusion of certain matters in the agenda of the Ordinary General Meeting, in particular:
1) a deposit certificate or a certificate on the right to participate in the Ordinary General Meeting of the Bank, issued by the entity maintaining the securities account in accordance with the regulations on trading in financial instruments, confirming that the addressee is a Shareholder of the Bank and holds an appropriate number of shares as of the date of the request, and
2) in the case of a Shareholder being a natural person - a copy of the identity document, passport or other document confirming his/her identity, or
3) in the case of a Shareholder other than a natural person - a copy or original of a current excerpt from the relevant register, and if the right to represent the Shareholder does not result from the relevant register - both the document(s) confirming the authorisation to represent the Shareholder and a copy or original of a current excerpt from the relevant register.

The obligation to attach the documents referred to above applies to the Shareholders submitting the request both in written and electronic form. Documents should be attached in a form appropriate to the form of the request (paper document or a copy or scan and conversion to PDF format).

The Bank may take necessary actions to identify the Shareholder(s) and verify the validity of the documents sent.

The Management Board of the Bank shall immediately, but not later than eighteen days prior to the date of the Ordinary General Meeting, announce changes to the meeting agenda made at the request of Shareholder(s). The announcement of the new agenda will be placed on the Bank's website www.pekao.com.pl and in the manner specified for the provision of current information, in accordance with the regulations on public offerings and conditions for the introduction of financial instruments to the organised trading system and on public companies.

2. Information on the Shareholder's right to submit draft resolutions concerning matters on the agenda of the Ordinary General Meeting or matters which are to be introduced to the agenda before the date of the Ordinary General Meeting.

A Shareholder or Shareholders of the Bank representing at least one twentieth of the share capital may, before the date of the Ordinary General Meeting of Shareholders, notify the Bank in writing (i.e. deliver in person against a confirmation of submission or send to the Bank against confirmation of dispatch and acknowledgement of receipt) to the address: Bank Polska Kasa Opieki Spółka Akcyjna, Zespół Obsługi Organów Korporacyjnych (Corporate Bodies Service Team), ul. Żwirki i Wigury 31, 02-091 Warszawa or using electronic means of communication, by sending an e-mail to a dedicated e-mail address: wz@pekao.com.pl, draft resolutions concerning the matters on the agenda of the Ordinary General Meeting or matters to be included in the agenda. The above draft resolutions must be submitted to the Bank not later than 24 hours before the date of the Ordinary General Meeting of Shareholders in connection with the need for the Bank to announce them on its website.

The appropriate date of submission of the above request will be evidenced by the date and hour of its receipt by the Bank, and in the case of using the electronic form, the date and hour of placing the above request in the Bank's electronic mail system (receipt at the Bank's mail server).

Draft resolutions may be submitted by a Shareholder by means of a properly completed and signed form downloaded from the Bank's website www.pekao.com.pl, however, if electronic means of communication are used, it is required to send the form and any attached documents as attachments in PDF format.

Draft resolutions are immediately announced on the Bank's website: www.pekao.com.pl.

The Shareholder(s) submitting draft resolutions should present documents confirming their identity and their right to submit draft resolutions, in particular:
1) a deposit certificate or a certificate on the right to participate in the Ordinary General Meeting of the Bank, issued by the entity maintaining the securities account in accordance with the regulations on trading in financial instruments, confirming that the addressee is a Shareholder of the Bank and holds an appropriate number of shares as of the date of the request, and
2) in the case of a Shareholder being a natural person - a copy of the identity document, passport or other document confirming his/her identity, or
3) in the case of a Shareholder other than a natural person - a copy or original of a current excerpt from the relevant register, and if the right to represent the Shareholder does not result from the relevant register - both the document(s) confirming the authorisation to represent the Shareholder and a copy or original of a current excerpt from the relevant register.

The obligation to attach the documents referred to above applies to the Shareholders submitting the request both in written and electronic form. Documents should be attached in a form appropriate to the form of the request (paper document or a copy or scan and conversion to PDF format). The Bank may take necessary actions to identify the Shareholder(s) and verify the validity of the documents sent.

3. Information on the Shareholder's right to submit draft resolutions concerning matters included in the agenda during the Ordinary General Meeting

During the General Meeting, each Shareholder may submit draft resolutions concerning matters included in the agenda.

4. Information on the manner of exercising the voting right by a proxy, including in particular the forms used during voting by a proxy and the manner of notifying the Bank by electronic means of communication of the appointment of a proxy

The Shareholder(s) may participate in the Ordinary General Meeting and exercise their right to vote in person or via a proxy.

The proxy shall exercise all rights of the Shareholder at the Ordinary General Meeting, unless otherwise specified in the power of attorney. The proxy may grant a further power of attorney if it results from the content of the power of attorney. The proxy may represent more than one Shareholder and vote differently on the shares of each Shareholder. A Shareholder holding shares registered in more than one securities account may appoint separate proxies to exercise the rights attached to shares registered in each account. A Shareholder holding shares registered in a collective account may appoint separate proxies to exercise the rights attached to shares registered in that account.

If the proxy of a Shareholder at the Ordinary General Meeting is a member of the Management Board, a member of the Supervisory Board, an employee of the Bank, or a member of a body or employee of the Bank’s subsidiary, the power of attorney granted to him/her may authorise him/her to represent the Shareholder at one General Meeting only. The proxy is obliged to disclose to the Shareholder the circumstances indicating the existence or possibility of a conflict of interest. The granting of further power of attorney is excluded in this case.

The power of attorney to participate in the Ordinary General Meeting and exercise the right to vote must be granted in writing or in electronic form. Granting a power of attorney in electronic form does not require a secure electronic signature verified with a valid qualified certificate. A power of attorney drawn up in a foreign language should be translated into Polish by a sworn translator. A power of attorney not translated into Polish by a sworn translator shall have no legal effect.

A Shareholder may notify the Bank on granting a power of attorney in an electronic form, via e-mail, to a dedicated e-mail address: wz@pekao.com.pl.

In the notification on granting the power of attorney in electronic form, the Shareholder shall provide his/her telephone number and e-mail address, as well as the telephone number and e-mail address of the proxy, through which the Bank will be able to communicate with the Shareholder and the proxy. If in doubt, the Bank may take further steps to verify the validity of the power of attorney granted in electronic form and to identify the Shareholder and the proxy. The notification on granting the power of attorney should also include the scope of the power of attorney, i.e. indicate the number of shares from which the voting rights will be exercised and the date of the Ordinary General Meeting at which those rights will be exercised.

The notification should be accompanied by copies of documents confirming the identity of the Shareholder (scan and conversion to PDF format), in particular:
1) in the case of a Shareholder being a natural person - a copy of the identity document, passport or other document confirming his/her identity, or
2) in the case of a Shareholder other than a natural person - a copy or original of a current excerpt from the relevant register, and if the right to represent the Shareholder does not result from the relevant register - both the document(s) confirming the authorisation to represent the Shareholder and a copy or original of the excerpt from the relevant register (valid as at the date of granting the power of attorney).

The notification on granting a power of attorney in electronic form must be made at least 24 hours before the date of the Ordinary General Meeting due to the need to carry out verification activities. The Bank will take appropriate actions to identify the Shareholder and the proxy in order to verify the validity of the power of attorney granted in electronic form. This verification may include, in particular, a return question in electronic form or by telephone addressed to the Shareholder or proxy in order to confirm the fact of granting the power of attorney and its scope.

On its website, the Bank provides a specimen notification form of granting the power of attorney in electronic form, for download, which may be used by the Shareholder to notify the Bank of granting the power of attorney in electronic form. This form, after being completed in accordance with the instructions contained therein, should be sent by the Shareholder to the dedicated e-mail address indicated above.

A proxy who has been granted a power of attorney in electronic form shall be obliged to submit, when preparing the list of attendance at the Ordinary General Meeting, a document confirming the granting of a power of attorney in electronic form and enabling identification of the Shareholder submitting such a statement and a document for identification of the proxy.

A specimen form for exercising voting rights by a proxy, containing the data specified in Article 402 (3) § 3 of the Commercial Companies Code, entitled - “Form for exercising voting rights by a proxy at the Ordinary General Meeting of Shareholders of Bank Polska Kasa Opieki Spółka Akcyjna with its registered office in Warsaw” was placed on the Bank's website at www.pekao.com.pl. If the proxy votes using the form, he/she must deliver the form to the Chairperson of the Ordinary General Meeting at the latest before the end of voting on the resolution which, according to the Shareholder's instruction, is to be voted using it.

Representatives of legal persons should have at their disposal the original or a copy of a current, i.e. from the last 3 months, excerpt from the relevant register, certified by a notary public, and if their right to represent the legal person does not result from the register, they should have a written power of attorney (in the original or a copy certified by a notary public) and an original or a copy of an excerpt from the relevant register, certified by a notary public, valid as of the date of granting the power of attorney.

5. Information on the possibility and manner of participation in the Ordinary General Meeting using electronic communication means

In view of the fact that the Bank's shareholding structure is characterised by a significant number, geographical diversity and different languages of communication, which means that in order for the Bank to meet the requirements necessary for the proper identification of shareholders and maintaining an appropriate level of security of electronic communication, it is necessary for the Bank to provide solutions at a high level of technological advancement, which the Bank does not have at its disposal at present, pursuant to Article 406 (5) § 1 of the Commercial Companies Code and § 8a paragraph 2 of the Bank's Statute, the Management Board of the Bank has decided not to allow participation in the Ordinary General Meeting of Shareholders of the Bank for the year 2019 with the use of electronic means of communication referred to in Article 406 (5) § 2 points 1 and 2 of the Commercial Companies Code (two-way real-time communication and exercising voting rights using electronic means of communication).

6. Information on the manner and form of communication during the Ordinary General Meeting using electronic communication means

In connection with the decision of the Management Board of the Bank referred to in point 5, there is no need to specify the manner and form of communication during the Ordinary General Meeting using electronic means of communication.

7. Information on the manner of exercising the right to vote by correspondence as well as on the manner of exercising the right to vote and raising objections to resolutions by means of electronic communication

In connection with the decision of the Management Board of the Bank referred to in point 5, there is no need to determine the manner of exercising the right to vote and raising objections to resolutions by means of electronic communication.

The Regulations of General Meetings of the Bank do not provide for the possibility of exercising the voting right by correspondence.

IV. THE POSSIBILITY OF OBTAINING INFORMATION CONCERNING THE GENERAL MEETING

Full documentation to be presented to the Ordinary General Meeting, together with draft resolutions and information concerning the Ordinary General Meeting will be placed on the Bank's website at www.pekao.com.pl from the date of convening the Ordinary General Meeting.

A Shareholder entitled to participate in the Ordinary General Meeting may obtain, in paper form, the full text of documentation to be presented to the Ordinary General Meeting and draft resolutions or remarks of the Bank's Management Board or Supervisory Board at the Bank's Head Office in Warsaw, ul. Żwirki i Wigury 31, Building B between 10:00 and 15:00 on business days.

V. ELECTRONIC COMMUNICATION BETWEEN THE SHAREHOLDER AND THE BANK

Subject to restrictions provided for in the Commercial Companies Code, the Bank's Shareholders may contact the Bank by means of electronic communication.
In particular, the Bank's Shareholders may submit motions, requests, and send notices and documents. The Shareholders' communication with the Bank in electronic form is carried out using a dedicated e-mail address: wz@pekao.com.pl.

A Shareholder using electronic means of communication bears the sole risk related to their use.

The Bank shall be responsible for security, confidentiality and processing, in accordance with the applicable regulations, of information contained in documents sent electronically, from the moment the documents are placed in the Bank's e-mail system (receipt at the Bank's mail server).

If the Shareholder sends documents to the Bank by electronic means that have been originally prepared in a language other than Polish, the Shareholder is obliged to attach a translation into Polish prepared by a sworn translator. All documents sent by the Shareholder to the Bank, as well as by the Bank to the Shareholder electronically, should be scanned into PDF format. 

VI. LIST OF SHAREHOLDERS

The list of Shareholders entitled to participate in the Ordinary General Meeting will be displayed at the Bank at the address: Warsaw, ul. Żwirki i Wigury 31, Building B, three business days before the Ordinary General Meeting, i.e. on 19, 20 and 21 May 2020.
A Shareholder of the Company may request that the list of shareholders entitled to participate in the Ordinary General Meeting be sent to him/her by e-mail free of charge, providing the e-mail address to which the list should be sent.
Pursuant to Article 407 § 2 of the Commercial Companies Code, the Bank's shareholder has the right to request a copy of motions on matters on the agenda within a week before the Ordinary General Meeting, i.e. from 15 May 2020.

VII. THE ADDRESS OF THE WEBSITE WHERE INFORMATION ON THE ORDINARY GENERAL MEETING WILL BE MADE AVAILABLE

All information concerning the Ordinary General Meeting and forms are available on the Bank's website www.pekao.com.pl.

VIII. OTHER INFORMATION

Pursuant to Article 402 § 2 of the Commercial Companies Code, in connection with the intended amendments to the Bank's Statute, the Management Board of the Bank informs about the existing provisions as well as the content of the proposed amendments to the Bank’s Statute.

Amendments to the Bank’s Statute proposed by the Management Board consist in:
1) repealing § 17(5), which reads as follows:
“5. The procedure set forth in paragraphs 2 and 4 does not apply to resolutions adopted in a secret ballot.”

2) amending the wording of § 18(7), which has so far read as follows:
“7) Appointment, following the approval of the Polish Financial Supervision Authority, and dismissal, in a secret ballot, of the President of the Management Board of the Bank, taking into consideration the assessment of compliance with the suitability requirements,”
by replacing it with the following provision:

“7) Appointment, following the approval of the Polish Financial Supervision Authority, and dismissal of the President of the Management Board of the Bank, taking into consideration the assessment of compliance with the suitability requirements,”.

3) amending the wording of § 18(8), which has so far read as follows:
“8) Appointment and dismissal, upon request of the President of the Management Board of the Bank, in a secret ballot, of the Vice-Presidents and Members of the Management Board of the Bank, taking into consideration the assessment of compliance with the suitability requirements,”
by replacing it with the following provision:

“8) Appointment and dismissal, upon request of the President of the Management Board of the Bank, of the Vice-Presidents and Members of the Management Board of the Bank, taking into consideration the assessment of compliance with the suitability requirements,”.

In connection with the inclusion in the agenda of the Ordinary General Meeting of Shareholders of the item concerning the appointment of members of the Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna, taking into account the assessment of suitability requirements, the Management Board of the Bank informs that together with the announcement of convening the Ordinary General Meeting of Shareholders of the Bank, the Information for the Shareholders of Bank Polska Kasa Opieki Spółka Akcyjna on suitability requirements for a candidate to perform the function of a Member of the Supervisory Board and the Information for the Shareholders of Bank Polska Kasa Opieki Spółka Akcyjna on the terms and conditions of assessing the suitability of a candidate to perform the function of a Member of the Supervisory Board were published on the Bank's website.
In order to ensure the efficient course of the meeting, the Management Board of the Bank asks the participants to arrive 45 minutes before the planned time of the Ordinary General Meeting.

The draft resolutions are attached to this Announcement.

Legal basis:
§ 19 sec. 1 p. 1 and 2 of the Ordinance of the Minister of Finance on current and periodic information published by issuers of securities and the conditions for regarding information required by the law of a non-member state as equivalent dated March 29th 2018 ( Journal of Laws of 2018, item 757) in connection with Article 402 (1) and Article 402 (2) of the Commercial Companies Code dated September 15th 2000 (uniform text: Journal of Laws of 2019, item 505, as amended).

The Management Board of the Bank