“The Code of the Capital Group is a "constitution" of sorts, providing solutions with regard to the management of the individual entities and of the Group as a whole. Its implementation provides an additional reinforcement of corporate governance, ensuring a balance of the legitimate interests of the majority and minority shareholders, as well as an element guaranteeing further growth of transparency in our operations,” said Jarosław Zagórowski, the President of the Management Board of Jastrzębska Spółka Węglowa.

The Code is the fundamental document regulating the internal organisation of the Group, and at the same time introducing uniform procedures and structuring the competences and responsibilities in strategic areas. At its basis lies the assumption that the interest of the individual entities within the Group is aligned with the interests of the entire Capital Group. The Code obliges the subsidiaries to cooperate in order to execute the mission and strategy of the JSW Group, to enhance shareholder and stakeholder value, and to maintain management integrity.

The Code came into effect on 2 August and currently is in force at JSW S.A. as the parent company.  Individual Companies within the Group shall, gradually, join the Group pursuant to the resolutions of their shareholders' meetings, thus accepting the provisions of the Code as the basis of the Group’s operations.