Quantum software S.A. Management Board hereby informs about permanent or partial departures from the provisions of the corporate governance rules with indication of the provisions and explanation of the exceptions.
The company departures from the following provisions:
Rule no 5 part I
The remuneration policy is established by the Supervisory Board in relation to the Management Board, and by the Management Board in relation to the regular employees of the Company by the ?Remuneration Regulation? and ?Employees bonus awarding system?. Remuneration of the Company?s Management Board includes: fixed part paid monthly and a commission paid yearly, depending on the Supervisory Board decision based on the economical ? financial company consolidated results. Remuneration of the Management Board and the Supervisory Board is revealed publicly and published in the stock exchange annual reports. Remuneration of persons managing and supervising the company is fully related to the scope of tasks and responsibilities resulting from the performed function and is reasonably related to the achieved economic results. For those reasons, the
Company does not find it necessary to introduce overall regulations, fully based on the recommendations of the European Commission of 2004 (2004/913/EC) and 2009 (2009/385/EC).
Rule no 9 part I
WSE recommends that public companies and their shareholders ensure balanced participation of women and men in performing the managing and supervisory functions in enterprises (…)
The Management Board agrees with this recommendation; nevertheless, the current employment structure in the Company’s managing and supervisory bodies corresponds to the specifics of the IT sector in which the enterprise operates. Issuer has implemented the equal opportunities policy with respect to employment and emphasized competence, professional experience and education.
Rule no 8 part 3
Annex I to the Commission Recommendation of 15 February 2005 on the role of non-executive or supervisory directors? should apply to the tasks and the operation of the committees of the Supervisory Board.
The rule does not find use, because committees do not function in the Supervisory Board.
Rule no 10 part 4
A company should enable its shareholders to participate in a General Meeting using electronic communication means through (?).
According to the Company, immediate implementation of this rule is too expensive and poses significant technical problems as to efficient transfer (e.g. due to the quality of transmission, the transfer of data with the use of current Connections or the risk of delay), the difficulties currently prevail ove