The main reason for this decision was the loss of trust in the President of the Management Board resulting from limiting the Supervisory Board’s access to information on the making of key decisions. In addition, the Supervisory Board emphasized that the obligations following from the management contract were not performed and the company was burdened with excessive expenditures in the range of tens of thousands of zlotys per month for the President’s business trips without proving their viability.

The Supervisory Board also drew special attention to inadequate oversight over JSW Group companies and multiple conscious misleading of the social side regarding the processes conducted in the Company.

The situation in Jastrzębska Spółka Węglowa is stable. The Jastrzębska Spółka Węglowa S.A. Management Board and Supervisory Board act in the Company’s best interest and ensure its functioning without any disturbances.

Supervisory Board Chairperson
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