Iwona Sroka has been appointed president of the Polish CSD KDPWs management board for a new term. The new term, which follows her initial appointment to the role on July 30 2009, was agreed by the CSDs shareholders on June 19 2012.
The general meeting of shareholders also adopted a resolution concerning the distribution of net profit of the financial year 2011 in the amount of PLN 42.5 million. The meeting decided to pay PLN 21.25 million as a dividend, which represents 50% of the net profit generated in 2011.
The supervisory board of KDPW also held a meeting on June 19 2012. At the meeting, by motion of the president of the Management Board Dr Iwona Sroka, the Supervisory Board appointed to the Management Board of KDPW Sławomir Panasiuk as deputy president of the Management Board and Michał Stępniewski as Management Board member.
It is with real professional satisfaction and a great honour that I welcome the decision of the shareholders who have put confidence in the previous Management Board and appointed it for the next term. In my opinion, it is best proof that the new strategy which we approved in 2009, very good financial results, and development projects implemented over the past three years have been acknowledged. As a proven effective team, this decision motivates us for further activities aiming to strengthen the infrastructure of the Polish capital market and harmonize it with the best global standards, said Iwona Sroka.
Key projects implemented by the Polish CSD over the last year years include the following:- implementation of the new depository-clearing system kdpw_stream;
– the creation of six new operational links with foreign securities depositories (Bulgaria, Canada, Lithuania, Latvia, Romania, Slovenia) supporting the dual listing of companies from those markets on the Warsaw Stock Exchange;
– preparation of the market and KDPW for omnibus account services;
– system of anonymous securities lending on demand via KDPW;
– co-ordination of work of T2S NUG_PL, which is implementing the European project TARGET2-Securities on the Polish market and preparing decisions concerning co-operation with the system;
-migration of euro settlement to Target2.
(JDC)
(JDC)