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Current Report No. 5/2016

29.01.2016 11:50

Appointment of TAURON Polska Energia S.A. Management Board member

​TAURON Polska Energia S.A. (”Company") informs that on 29 January 2016 the Company’s Supervisory Board appointed, as of 29 January 2016, Mr. Marek Wadowski as Vice-President of the Management Board for Economics and Finance.

Mr. Marek Wadowski is a manager with over 9 years of experience in working at large joint stock companies, where he held posts as member of the management board. He is an expert in the field of accounting, controlling and financial processes management. He has professional experience in industry (power, mining, steel industry), financing of investments and international commercial transactions.

He gained professional experience at the Capital Group of Jastrzębska Spółka Węglowa S.A. (2008-2015) where, as Vice-President of the Management Board for Economic Affairs (2009-2012), he took part in the IPO of JSW S.A. (implementation of International Accounting Standards, modification of management information system, development of IPO prospectus, talks with investors). At Spółka Energetyczna Jastrzębie (subsidiary of JSW S.A.) (2012-2015) he was involved in execution of investment program Energetyka 2016 where he dealt with development of Business Plan, structuring of financing and acquisition of funds from consortium of banks in the form of PLN 420 million worth bond issue program. He also implemented risk management procedures related to interest rate, CO2 and prices of certificates of origin, he developed and implemented liquidity management policy.

At Polski Koks S.A. (subsidiary of JSW S.A.) (2008-2009), as Vice-President of the Management Board, CFO, he dealt with structuring of commercial transactions, implementation of foreign exchange risk hedging policy, financial costs reduction, liquidity management.

He also gained professional experience at Towarzystwo Finansowe Silesia (2015-2016) where, as President of the Management Board, he was involved in PLN 1.9 billion worth bond issue program for Kompania Węglowa, and also in acquisition of PLN 520 million debt financing from consortium of banks.

In addition, at Huta Cynku Miasteczko Śląskie S.A. (2005-2008) he executed financial restructuring of the company that consisted in, among other things, signing a composition agreement with creditors for approx. PLN 40 million.

He also worked at BRE Corporate Finance S.A. (1999-2005) as consultant in projects executed for, among others, JSW S.A., Koksownia Przyjaźń, KK “Zabrze” and WZK “Victoria”, ZGH Bolesław in Bukowno, Huta Cynku Miasteczko Śląskie S.A., Orzeł Biały S.A. He was responsible for due diligence projects and enterprise valuation (using income-based, equity and comparison valuation methods).

Graduate of the University of Economics in Katowice where he obtained MA at the faculty of economy, he also completed post graduate studies École Supérieure de Commerce Toulouse where he obtained Mastère Spécialisé en Banque et Ingéniere Financière diploma and Executive MBA studies at the Kozminski University in Warsaw. He completed numerous trainings in the field of finance (The Wharton School, University of Pennsylvania, Imperial College London, School of Professional Development) and management. He is currently obtaining CIMA certificate (holder of Advanced Diploma in Management Accounting).

The remaining information about the appointed member of the Management Board of TAURON Polska Energia S.A. required under the Decree of the Minister of Finance of 19 February 2009 on current and periodic information disclosed by issuers of securities (…) will be announced by the Company in a current report at a later time.

Article 56 section 1 item 2 of the Act on public offering – current and periodic information
 

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