Subject:Changes in the composition of the Audit Committee
Legal basis: Art. 17 section 1 of MAR – inside information
The Management Board of CD PROJEKT S.A. with a registered office in Warsaw, Jagiellońska 74 (hereinafter referred to as “the Company”) hereby announces that on 23 May 2019, acting in compliance with Art. 128 section 1 of the Act of 11 May 2017 on certified auditors, audit firms and public supervision (hereinafter referred to as “the Act”), the Supervisory Board of the Company introduced changes in the composition of the Audit Committee by incorporating two additional members of the Supervisory Board and apportioning responsibilities as follows:
- Michał Bień – Chairman of the Audit Committee fulfilling independence criteria specified in Art. 129 section 3 of the Act,
- Maciej Nielubowicz – Member of the Audit Committee possessing knowledge and expertise in the area of accounting or attestation of financial statements,
- Krzysztof Kilian – Member of the Audit Committee fulfilling independence criteria specified in Art. 129 section 3 of the Act,
- Piotr Pągowski – Member of the Audit Committee fulfilling independence criteria specified in Art. 129 section 3 of the Act and fulfilling criteria specified in Art. 129 section 5 of the Act,
- Katarzyna Szwarc – Member of the Audit Committee fulfilling criteria specified in Art. 129 section 5 of the Act.
The Audit Committee, which operates in the framework of the Supervisory Board, fulfills independence criteria as well as other criteria specified in Art. 128 section 1 and Art. 129 sections 1, 3, 5 and 5 of the Act, i.e. (i) at least one member of the Audit Committee possesses knowledge and expertise in the area of accounting or attestation of financial statements; (ii) at least one member of the Audit Committee possesses knowledge and expertise with regard to the market segment in which the Company conducts its operations, or otherwise individual members of the Audit Committee possess knowledge and expertise with regard to specific aspects thereof; (iii) the majority of Audit Committee members, including its chairperson, is independent of the Company.
Pursuant to the adopted Audit Committee Regulations, Members of the Audit Committee are appointed by the Supervisory Board from among its members for a term equivalent to that of the Supervisory Board.
Disclaimer:
This English language translation has been prepared solely for the convenience of English speaking readers. Despite all the efforts devoted to this translation, certain discrepancies, omissions or approximations may exist. In case of any differences between the Polish and the English versions, the Polish version shall prevail. CD PROJEKT, its representatives and employees decline all responsibility in this regard.