- JSW GROUP
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- Activities in 2018
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JSW's share capital in 2018 amounted to PLN 587 057 980.00 and was divided into 117 411 596 ordinary shares with a nominal value of PLN 5.00 each, including: 99 524 020 series A shares, 9 325 580 series B shares, 2 157 886 series C shares and 6 404 110 series D shares. The total number of votes at JSW's General Meeting arising from all outstanding JSW shares is 117 411 596.
Shareholder | Quantity of shares | Quantity of General Meeting votes |
% stake in share capital |
% share of total number of General Meeting votes |
---|---|---|---|---|
State Treasury | 64 775 542 | 64 775 542 | 55.16% | 55.16% |
Other shareholders | 52 636 054 | 52 636 054 | 44.84% | 44.84% |
TOTAL | 117 411 596 | 117 411 596 | 100.00% | 100.00% |
The Company does not issue securities with special control rights.
Restrictions in exercising voting rights are described in the Company’s articles of association and state as follows:
1) remaining in a controlling or subsidiary relationship within the meaning of the Polish Commercial Companies Code,
2) having the status of a parent company, subsidiary or simultaneously parent company and subsidiary, within the meaning of the Act on Competition and Consumer Protection of 16 February 2007, or
3) having the status of a parent entity, parent entity of a higher level, subsidiary, subsidiary of a lower level, or having simultaneously the status of a parent entity (including parent entity of a higher level) and subsidiary (including subsidiary of a lower level and fellow subsidiary) within the meaning of the Accounting Act of 29 September 1994, or
4) that exerts (parent entity) or is subject to (subsidiary) decisive influence within the meaning of the Act of 22 September 2006 on Transparency of Financial Relations between Public Authorities and Public Enterprises and on Financial Transparency of Certain Enterprises, or
5) whose votes arising from the Company’s shares, held directly or indirectly, are subject to accumulation with the votes of another entity or entities on the principles set forth in the Act of 29 July 2005 on Public Offerings and the Terms for Introducing Financial Instruments to an Organised Trading System and on Public Companies, in connection with holding, selling or acquiring significant stakes in the Company.
1) the number of votes of the shareholder holding the largest number of the Company’s votes from among all shareholders in a Shareholder Group is reduced by the number of votes equal to the surplus above 10% of all the votes in the Company vested jointly in all shareholders from the Shareholder Group,
2) if despite the reduction referred to in point 1) above the total number of votes at the General Meeting vested in the shareholders from a Shareholder Group exceeds 10% of total votes in the Company, further reduction of votes held by other shareholders from the Shareholder Group will be carried out. Further reduction of votes of individual shareholders will take place in the order determined on the basis of the number of votes held by individual shareholders in the Shareholder Group (from largest to smallest). Further reduction is carried out until the total number of votes held by shareholders from the Shareholder Group no longer exceeds 10% of the Company’s total votes,
3) in each case a shareholder with restricted voting rights retains the right to exercise at least one vote,
4) voting right restrictions also pertain to shareholders who are not present at the General Meeting.