Pursuant to the Act of 9 June 2016 on the Principles of Defining the Remuneration of Managers of Certain Companies (the “Act”), the draft resolution on the principles of defining the remuneration of members of company governing bodies may provide for a part of their fixed remuneration to be different from that determined on the basis of customary parameters (revenues, employment, assets, etc.), if it is justified by exceptional circumstances related to the company or the market on which it operates, in particular if the company:
1) Pursues a programme of consolidation of companies in its capital group leading to a significant change in the structure of its assets or revenues;
2) Implements an investment programme significantly exceeding the value of its fixed assets;
3) Implements a restructuring programme with a time horizon of at least 3 years, leading to a significant change in the structure of the company's assets or revenues;
4) Has its registered address outside the Republic of Poland or the rules of its activity are set out in an international agreement binding on the Republic of Poland;
5) Has been in operation for less than a year;
6) Was established for the purpose of implementing a project, in particular one subsidized with contributions from the budget of the European Union or non-reimbursable aid from the Member States of the European Free Trade Agreement (EFTA) or from other non-reimbursable foreign sources.
In the case of CCGT Ostrołęka Sp. z o.o., there were grounds specified in Art. 4.3.5 of the Act determining a different amount of the fixed part of remuneration of its management board members.
In accordance with the adopted strategy, the power sector will be developed based on RES generation and gas assets.
CCGT Ostrołęka is a company whose core business will focus on the continuation of construction of the power plant in Ostrołęka.
For operational reasons, it is necessary to establish a new special purpose vehicle - CCGT Ostrołęka - which will take over the part of the assets necessary for the gas project and will conduct activities associated with the construction of a new combined-cycle gas unit.
