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Common shares are classified as share capital. The share capital is recognized in the amount specified in the articles of association and registered in the court register of the Parent Company, taking into account an adjustment for hyperinflation of the part of the share capital which comes from before 31 December 1996.
The costs incurred directly in connection with the issue of new shares and options are presented in the equity as decrease, after tax, of proceeds from the issue.
| Number of shares (thousand) |
Common shares par value |
Hyperinflation adjustment |
TOTAL | |
|---|---|---|---|---|
| As at 31 December 2017 | 117,412 | 587.0 | 664.9 | 1,251.9 |
| As at 31 December 2018 | 117,412 | 587.0 | 664.9 | 1,251.9 |
As at 31 December 2018, the share capital of JSW was PLN 587,057,980.00 and was divided into 117,411,596 common shares with no voting preference, fully paid up, with a par value of PLN 5.00 each. All the shares were issued and registered as at the end date of the reporting period. The total number of votes linked to all the shares issued by JSW is 117,411,596 votes at the Shareholder Meeting of JSW.
The Parent Company’s share capital as at 31 December 2018 consists of the following share series:
| Series | Number of shares |
|---|---|
| A | 99,524,020 |
| B | 9,325,580 |
| C | 2,157,886 |
| D | 6,404,110 |
| TOTAL | 117,411,596 |
As at 31 December 2018 and as at the date of these consolidated financial statements, the JSW’s shareholder structure was as follows: *
| Shareholder | Number of shares | Number of votes at the Shareholder Meeting | % of the share capital | % of total votes at the Shareholder Meeting |
|---|---|---|---|---|
| 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% |
* According to Current Report No. 38/2018 of 7 December 2018, the only shareholder with at least 5% of votes at the Extraordinary Shareholder Meeting held on 7 December 2018 was the State Treasury with 64,388,780 votes or a 54.84% share in all votes.
JSW does not have a detailed list of the shareholder structure as at 31 December 2018 or as at the date of these consolidated financial statements. In the reporting period, JSW did not receive any information about exceeding the percentage thresholds of the total number of votes specified in Article 69 Section 1 of the Act on Public Offerings and the Conditions for Floating Financial Instruments in an Organized Trading System and on Public Companies. The only shareholder of JSW which held a number of shares constituting 5% of the share capital and giving it the right to the same amount of votes at the Shareholder Meeting, as at 31 December 2018 and as at the date of preparation and publication of this report was the State Treasury.