Securities administration - Poland
Income collection
| Market Record date | Ex-date | Basis for entitlement | Standard interest calculation rule |
| Coupon payment | |||
| As announced | Record date -1 | Settled position on Record date | No standard - Most commonly Actual/Actual and Actual/365. |
| Dividend payment | |||
| As announced | Record date -1 | Settled position on Record date | Not applicable. |
Corporate actions
Most common corporate events
The most common corporate events are: Rights issues, Tender offers, Assimilation, General meetings.
Organisation of AGM/EGM
Ordinary general meetings of shareholders (AGMs) must be called once a year and within six months from the end of the fiscal year. The AGM is held to approve the balance sheets, dividend payment and the record date, to appoint the Board of Directors and auditors and to pass resolutions on matters related to the management of the company.
Extraordinary general meetings (EGMs) are called to vote on amendments to the Articles of Association (stock capital increase, decrease, name changes etc.), issuance of bonds and appointment of liquidators and other such issues.
Further information related to general meetings:
- The convocation to a general meeting shall take place at least 26 days prior to the date of the meeting, either on the issuer's website or in a current report.
- Shareholders entitled to vote are those holding shares at close of business on the record date which is 16 calendar days prior to the general meeting.
- A shareholder may participate in a general meeting either in person or by proxy. The company’s articles of association may also offer the possibility to participate in the general meeting via electronic means.
- Partial and split voting is allowed.
Other market specifics
There is no blocking of shares, only investors holding shares on record date are entitled to participate.