act legal covers all major European business centres.
Warsaw | Amsterdam | Bratislava | Bucharest | Budapest | Frankfurt | Milan | Prague | Vienna
meet us at www.actlegal.com

x
x

actlegal.com

Legal alert

Significant changes for public limited companies and partnerships limited by shares in 2020

16.01.2020

A commercial companies and partnerships code amendment, providing for dematerialization of shares, is to take effect on 1 January 2021.

From the beginning of 2021, entries in shareholders registers, kept by entities which are authorized to maintain securities accounts (in accordance with the Financial Instruments Trading Act), will have legal effect. This means that from that date on it is the persons listed in such registers, and not the holders of shares (in the case of bearer shares) or persons entered in the share register (in the case of registered shares), who will be deemed as shareholders.

Although the vacatio legis period relating to the amendment may seem relatively long, some of the new regulations, regarding the procedure of share registration, already entered into force on 1 January 2020, with further provisions taking effect on 10 March 2020. As of 1 January 2020, every public limited company (spółka akcyjna) and partnership limited by shares (spółka komandytowo-akcyjna) will be required to put up a website where, in a section intended for shareholder communication, it will publish news it is required to advertise under the law or own articles of association. What is more, the companies will be required to repeat the request to shareholders to handover paper-form shares five times, with the time limit for the first request until 30 June 2020. Before the first request, the company should enter into a shareholders register agreement with an entity approved by a shareholders’ meeting.

In case of any questions about the issues presented above, feel free to get in touch. We will be happy to guide you through this process together with brokerage houses with whom we are cooperating.

Contact

Jakub Salwa
Attorney-at-law / Partner
+48 22 420 59 59
jakub.salwa@actlegal-bsww.com

Michał Pawlak
Attorney-at-law / Senior Associate
+48 22 420 59 59
michal.pawlak@actlegal-bsww.com

Udostępnij

Related news

Press releases

act legal Poland provided legal advice to Rank Progress S.A. in establishing a joint venture with Archicom S.A. for the purpose of a joint residential development in Wrocław

Rank Progress S.A. and Archicom S.A. are investment and development companies listed on the WSE, operating dynamically on the real estate market. The companies have joined forces by entering into a joint venture agreement for – the Browarna Project in Wrocław, which con...

Press releases

act legal Poland advised the IVS Group in the transaction of acquisition of shares in Rafago Sp. z o.o.

A team supervised by Jacek Bieniak/ Managing Partner, Attorney-at-law and Maciej Iwanejko/ Partner, Attorney-at-law, gave comprehensive legal advice in the process of acquisition of Rafago Sp. z o.o./ Katowice – a vending company by IVS Group. IVS Group (Internationa...

Press releases

act BSWW legal & tax advised Archicom S.A. on land acquisition in Wroclaw in the area of Wybrzeże Reymonta

In November 2023. Archicom S.A. acquired a plot of land located on Reymonta Street. Recently, the developer has finalised another transaction for the purchase of adjacent land. The transaction was led by Mateusz Prokopiuk/Partner, Attorney-at-law from the Real Estate t...

Press releases

act BSWW legal & tax provided advice to a company from Profit Development S.A. Group on the acquisition of the real estate located in Warsaw

The team of act BSWW legal & tax provided comprehensive legal advice on the conclusion of a sales and purchase agreement between the seller and a company from the Profit Development S.A. Group, which concerned  a real estate located in Warsaw, Ostródzka Street. The...

Press releases

act BSWW legal & tax advised Archicom S.A. on land acquisition in Wroclaw

The legal team of act BSWW legal & tax was responsible for providing comprehensive legal advice to Archicom S.A. on the acquisition of land in Wroclaw, on Wladyslawa Reymonta Street. The transaction was led by Mateusz Prokopiuk/ Partner with the support of Aneta Gi...

Press releases

act BSWW legal & tax advises WSE-listed developer on acquisitions for residential developments in Kraków

The team led by Michał Wielhorski, Managing Partner, advised ED Invest S.A. on a number of transactions involving the acquisition of land for multi-family residential developments in Kraków. Other team members included: Mateusz Prokopiuk, Partner and Aneta G...

View all