Information on Operations of the Supervisory Board of Lubelski Węgiel Bogdanka S.A. in 2010
The Term of Office of the Supervisory Board
1. Commercial Companies Code
2. Company's Articles of Association
3. Rules of Procedure of the Supervisory Board
4. Principles of good practice of companies listed at the Warsaw Stock Exchange
The Supervisory Board exercises permanent supervision over the Company’s operations and performs its tasks on the basis of special powers granted to it by the Company's Articles of Association and the Rules of Procedure of the Supervisory Board.
The powers of the Supervisory Board shall include:
Cooperation of the Supervisory Board and the Management Board of the Company
Within the framework of rights and powers held, the Supervisory Board provided the Management Board with active support in implementation of the Company’s goals, for 2010, analysing and assessing issues submitted to the meetings by the Company’s Management Board.
Rule concerning the change of chartered auditor
Pursuant to Section II, clause 1.14 of the Code of Best Practice for the WSE Listed Companies, Lubelski Węgiel Bogdanka S.A. hereby announces that a rule concerning the change of an entity authorised to audit financial statements is not applied by the Company.
The Supervisory Board of Lubelski Węgiel Bogdanka S.A. continuous supervision over the operations of the Company in all of its fields.
The Supervisory Board of LW BOGDANKA S.A. is appointed for a three - year joint term of office. The Board shall be composed of five to nine members. The members of the Supervisory Board are appointed and removed by the General Shareholders Meeting. The Board shall operate under:
The Supervisory Board of LW BOGDANKA S.A. is appointed for a three - year joint term of office. The Board shall be composed of five to nine members. The members of the Supervisory Board are appointed and removed by the General Shareholders Meeting. The Board shall operate under:
1. Commercial Companies Code
2. Company's Articles of Association
3. Rules of Procedure of the Supervisory Board
4. Principles of good practice of companies listed at the Warsaw Stock Exchange
The Supervisory Board exercises permanent supervision over the Company’s operations and performs its tasks on the basis of special powers granted to it by the Company's Articles of Association and the Rules of Procedure of the Supervisory Board.
The powers of the Supervisory Board shall include:
- Review of the Directors’ Report on the Company’s operations and of the financial statements for the preceding financial year, including the consolidated financial statements of the Group, if any, in terms of their conformity with the accounting books and documents and with the actual state of affairs,
- Assessment of the Management Board’s proposals concerning distribution of profit or coverage of loss,
- Submission to the General Shareholders Meeting of an annual written report on the results of the activities referred Directors’ Report on the Company’s operations and of the financial statements for the preceding financial year, including the consolidated financial statements of the Group, if any, in terms of their conformity with the accounting books and documents and with the actual state of affairs,
- Appointment of a chartered auditor to audit the annual financial statements of the Company and the consolidated financial statements of the Group,
- Determination of the scope of annual business plans and long-term strategic plans, and the deadline for submission thereof by the Management Board,
- Issue of opinions on the Company’s long-term strategic plans,
- Issue of opinions on annual business plans,
- Adoption of the Rules of Procedure for the Supervisory Board, determining in detail the procedures of the Supervisory Board,
- Adoption of the uniform text of the Company’s Articles of Association prepared by the Management Board, for the Company’s internal use,
- Approval of the Rules of Procedure for the Company’s Management Board,
Cooperation of the Supervisory Board and the Management Board of the Company
Within the framework of rights and powers held, the Supervisory Board provided the Management Board with active support in implementation of the Company’s goals, for 2010, analysing and assessing issues submitted to the meetings by the Company’s Management Board.
Rule concerning the change of chartered auditor
Pursuant to Section II, clause 1.14 of the Code of Best Practice for the WSE Listed Companies, Lubelski Węgiel Bogdanka S.A. hereby announces that a rule concerning the change of an entity authorised to audit financial statements is not applied by the Company.
Report of the Supervisory Board - 2011
Attached files:
- » Report on operations of the Supervisory board of LWB.pdf (.pdf, 201kB)
- » Supervisory Boards report on the assessment of the companys financial statements and Directors Report on operations for 2011.pdf (.pdf, 217kB)
- » Supervisory Boards report on the assessment of the consolidated financial statements of the LWB SA Group and the directors report on operations of the LWB SA Group.pdf (.pdf, 161kB)