May 22, 2020 Elemental Holding S.A. received a decision of the Court of Appeal in Warsaw, which annulled the security of Nationale - Nederlanden OFE's claim, given by the District Court in Warsaw. The decision of the Court of Appeal is not subject to appeal.
The security for the claim was issued as a result of the Nationale - Nederlanden OFE's motion to secure the claim regarding the appeal against Resolution No. 4 of the Extraordinary General Meeting of the Company of September 16, 2019. This resolution establishes Krzysztof Ways a company representative in court proceedings brought against the Company by the Company's Management Board nullity of resolutions 5 and 6 of the General Meeting of Shareholders of January 23, 2019. Nationale - Nederlanden OFE applied for securing the claim by suspending the implementation of the resolution, thus striving to block the possibility of representing the company by Mr. Ways.
As a result of the decision of the Court of Appeal, which changed the decision of the Regional Court and dismissed the Nationale - Nederlanden OFE's application, Resolution No. 4 of the EGM of the Company of September 16, 2019 remains in force until a final court ruling in the case brought by NN OFE. Thus, until that time, Mr. Krzysztof Ways remains the Company's attorney in court proceedings regarding resolutions 5 and 6 of the General Meeting of Shareholders of January 23, 2019.
On the receipt of the decision of the Court of Appeal in Warsaw, the Management Board of Elemental Holding S.A. informed the market in Current Report No. 41/2020, which you can read in the Investor Relations section.