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Corporate governance
- Letter from the president
- Management Board
- Supervisory Board
- Shareholder Meeting
- Restrictions regarding the exercise of voting rights
- Restrictions on the transfer of ownership title to securities
- Representation on the application of corporate governance principles
- Identification of the set of corporate governance rules being applied
- Identification of corporate governance rules not applied
- Description of the rules for amending the Articles of Association of JSW S.A.
- JSW S.A. information policy and communication with the capital market
My report
- Add to my report
- View my report
Restrictions on the transfer of ownership title to securities
Restrictions regarding the transfer of the ownership title to JSW S.A.'s shares are specified in § 8 of the Articles of Association of JSW S.A., according to which: “Disposal of 50% + 1 shares by the State Treasury may be effected only with the consent of the Council of Ministers. Disposal of shares without such consent shall be invalid.”
Moreover, there are time restrictions for transferring the ownership title to JSW S.A. securities acquired gratuitously by Capital Group employees. The shares received may not be sold for a period of 2 years (or 3 years for Management Board members), starting from 7 July 2011, regardless of the date when the eligible persons actually received the shares (“lock-up”). During that time, the shares will be held in custody by the Dom Maklerski PKO BP S.A. brokerage house.
