GPW W WARSZAWIE SA Appointment of Members of the Warsaw Stock Exchange Management Board

Current Report No. 18/2014

Date: 25.07.2014

Subject: Appointment of Members of the Warsaw Stock Exchange Management Board for a new term of office

Legal basis: Article 56.1(2) of the Act on Offering - current and periodic information

Content of the report:

The Warsaw Stock Exchange ("Exchange", "WSE", "Company") informs that on 25 July 2014 the Exchange Supervisory Board acting pursuant to Article 386 § 4 of the Commercial Companies Code in connection with § 20.3 of the Company's Articles of Association and Article 27.1 of the Act on Trading in Financial Instruments decided to appoint the following Members of the Warsaw Stock Exchange Management Board for a new term of office:- Mr Dariusz Kułakowski as Vice-President of the Exchange Management Board,- Mr Karol Półtorak as Vice-President of the Exchange Management Board,- Mr Mirosław Szczepański as Vice-President of the Exchange Management Board,- Mr Grzegorz Zawada as Vice-President of the Exchange Management Board.For Mr Karol Półtorak and Mr Grzegorz Zawada, the decision will enter into force on the date of delivery the approvals of the Polish Financial Supervision Authority for the changes on the Exchange Management Board.For Mr Dariusz Kułakowski and Mr Mirosław Szczepański, the Resolution of the Exchange Supervisory Board enters into force on the date of adoption, i.e., 25 July 2014.According to the statements provided by the newly appointed Members of the Exchange Management Board, they do not perform in any form any activities competitive to the WSE, they are not engaged in a competitive company as partners in a partnership or civil law partnership or members of an authority of a joint stock company, and they are not engaged in any other competitive legal entity as members of its authority. Furthermore, the above-mentioned persons do not have a record in the Register of Insolvent Debtors operating under the Act on the National Court Register.Dariusz KułakowskiDariusz Kułakowski graduated from the Warsaw School of Economics and completed post-graduate courses at the Academy of Finance in Warsaw and the Warsaw University of Technology.He holds an ITIL Expert certificate from EXIN (Examination Institute for Information Science). He worked at the Warsaw Stock Exchange for many years, as Head of the Exchange Systems Section in 1993-1999 and Deputy Director of the IT Department in 1999-2001.In 2001-2003, he was Director of the IT Integration Department at PZU S.A. In 2003-2006, he was IT Plenipotentiary of the President of the Social Security Institution (ZUS) and, in parallel, Director of the IT Support Department and Technical Co-ordinator of the Comprehensive IT System Project.In 2006, he joined the Warsaw Stock Exchange again as General Director for Technology responsible for direct supervision of the organisation and operation of the WSE's IT Department, seamless operation of the Exchange's IT systems and management of the UTP implementation project.Starting April 18th 2014 he is President of the Management Board of the WSE Commodities S.A.He has been awarded the Silver Cross of Merit for his contribution to the growth of Poland's capital market.Karol PółtorakHe holds a degree from the Warsaw School of Economics and the University of Derby.He joined the Polish capital market in 1999. A chartered securities broker since 1997.In 2001, he joined Citi Group as Vice-President of the Management Board of Dom Maklerski Banku Handlowego. As Head of Capital Operations, he was responsible for equity raising for companies listed on WSE and their shareholders (IPO, pre-IPO, accelerated equity offering, follow-on, dual-listings, equity-linked) and worked with Polish and international investors and issuers. In 2000-2011 with UniCredit CAIB (Warsaw and London), responsible for ECM and M&A transactions in different industries. His prior professional experience includes the position of Auditor with PwC (1999-2000), Deutsche Bank Securities (formerly ProCapita) (1999) and Grant Thornton in London (1998).Mirosław SzczepańskiGraduate of the Warsaw School of Economics and the International Institute for Securities Market Development in Washington, D.C. Certified State Treasury Company Supervisory Board Member and certified Corporate Receiver.For many years with the Warsaw Stock Exchange, among others as Director of the Listing Department, Director of the Development and Regional Co-operation Department, Securities Broker Examination Panel Member, and WSE Representative on the Advisory Group to the National Depository for Securities (KDPW).In 2008-2009, responsible for development of brokerage services in Raiffeisen Bank Polska S.A. Since late 2009 till February 2013, President of the Management Board of the WSEInfoEngine S.A. and since 2012 till February 2013 President of the Management Board of the Instytut Rynku Kapitałowego - WSE Research S.A.Since April 2013 Member of the Management Board of the Warsaw Stock Exchange and Chairman of the IRK WSE Research S.A. Since May 2013 Member of the Polish Power Energy Supervisory Board. Since July 2013 Chairman of the WSEInfoEngine S.A. Supervisory Board. Since March 2014 Member of the WSE Commodities S.A. Supervisory Board.Grzegorz ZawadaHe holds a degree from the Warsaw School of Economics and the University of Minnesota MBA Programme. Chartered Financial Analyst.He joined the Polish capital market in 1996. He started his professional career in the National Investment Fund programme and later joined the financial advisory practice of the international consultancy Deloitte.In 2000-2007 with the Erste Bank group as CEE Banking Analyst, Country Director of Research in Poland and from 2005 Member of the Management Board.In 2007-2011 in the London City as Director in the research division of Nomura, RBS and HSBC specialised in the CEE banking industry (from Austria to Russia and Kazakhstan).From 1 February to the end of December 2011, Deputy Director of Dom Maklerski PKO Bank Polski responsible for market research. Since January 2012, he holds the position of Director of Dom Maklerski PKO Bank Polski.Legal basis: § 5.1 (22) and § 28 of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information provided by issuers of securities and on conditions under which information required by legal regulations of a third country may be recognised as equivalent.

More information on page: biznes.pap.pl

kom espi pif/