CONSOLIDATED TEXT OF THE ARTICLES OF ASSOCIATION OF LIVECHAT SOFTWARE Spółka Akcyjna with its seat in Wrocław
as amended by resolutions of the Extraordinary General Meeting of Shareholders of Livechat Software S.A. included in the notarial deed Repertory A No 12392/2011 as of 27 September 2011 prepared by the notary Joanna Deczkowska from the notary’s office in Bracka 18/5, Warsaw,
as well as by resolutions of the Extraordinary General Meeting of Shareholders of Livechat Software S.A included in the notarial deed Repertory A No 12380/2013 as of 29 November 2013 prepared by the notary Karolina Warczak-Mańdziak from the notary’s office in Powstańców Śląskich 121/207 in Wrocław.
- The Company shall operate under the name: LIVECHAT Software Spółka Akcyjna.
- The Company may use the abbreviated name: LIVECHAT Software S.A.
- The Company may use its name in conjunction with its logo.
The Company originates from the transformation of another company under the name: LIVECHAT Sp. z o.o with its registered seat in Wrocław, registered under the KRS number 0000120715 in the Register of Entrepreneurs of the National Court Register kept by the District Court in Wrocław-Fabryczna, 6th Commercial Division of the National Court Register.
Wrocław is a registered seat of the Company.
Area of Activity
The Company may operate within the Republic of Poland and abroad.
Life of the Company
The life of the Company is unlimited.
Objects of the Company
- According to the Polish Classification of Activity (PKD), the object of the company is the following:
- 20.Z – Manufacture of computers and peripheral equipment
- 21.Z – Electrical installation
- 41.Z – Retail sale of computers, peripheral units and software in specialized stores
- 42.Z – Retail sale of telecommunications equipment in specialized stores
- 59.Z – Retail sale of furniture, lighting equipment and other household articles in specialized stores
- 19.Z. – Other publishing
- 21.Z – Publishing services of computer games
- 29.Z – Other software publishing services
- 10.Z – Wired telecommunications activities
- 20.Z – Wireless telecommunications activities
- 01.Z – Programming activities
- 02.Z – Computer consultancy activities
- 09.Z – Other information technology and computer service activities
- 11.Z – Data processing, hosting and related services
- 12.Z – Web portal content
- 22.Z – Other business and management consultancy activities
- 11.Z – Research and experimental development on biotechnology
- 19.Z – Research and experimental development on natural sciences and engineering
- 11.Z – Advertising agencies
- 12.A – Sale of television and radio advertising time
- 12.B – Sale of advertising space on a fee or contract basis in print media
- 12.C – Sale of advertising space on a fee or contract basis in electronic media (Internet)
- 12.D – Sale of other advertising time
- 90.Z – Other professional, scientific and technical activities n.e.c.
- If the law requires a license or another authorization in order to commence a particular activity, the Company shall be obliged to obtain the appropriate licence or authorization.
- If the law imposes an obligation to have the appropriate professional permissions in order to carry out a specific activity, the Company shall be obliged to ensure that the activities within the scope of operation of the Company are carried out directly by a holder of such professional certification.
- The Company may establish, among others, branches, subsidiaries and factories in the country and abroad, join other companies, cooperatives and business organizations, as well as purchase and sell, among others, shares and other equity in other companies.
- The share capital of the Company amounts to PLN 515,000.00 (five hundred fifteen thousand).
- The share capital of the Company is divided into 25,000,000 (twenty five million) ordinary bearer shares of series A and 750,000 (seven hundred fifty thousand) ordinary bearer shares of series B of a nominal value of PLN 0.02 (two groszy) each.
- The share capital may be increased by increasing the nominal value of shares or by issuing new shares.
- The share capital was paid in full prior to the incorporation of the Company.
- Shares enumerated in 7(2) of the Articles of Association are bearer shares subscribed by the Shareholders as a result of a transformation of a limited liability company into a joint-stock company referred to in § 2 of the Articles.
- Newly issued shares may be registered shares of bearer shares and may be paid in cash of in kind. The increase of the share capital may also be effected by the Company, as specified in the law.
- The conversion of bearer shares into registered shares is forbidden.
- The Company’s shares may be issued as collective.
- The sale of registered shares requires the consent of the Company granted by the Supervisory Board.
Withdrawal of Shares
Shares may be withdrawn only with the prior consent of a Shareholder through their acquisition by the Company.
The Company may issue bonds, including bonds convertible into shares.
Organs of the Company
The organs of the Company shall be:
- General Meeting,
- Supervisory Board,
- Management Board.
General Meetings of Shareholders
- The General Meeting may be ordinary or extraordinary.
- The Ordinary General Meeting shall be held within six months of the end of the operating year.
- Shareholders may attend the Meeting by means of electronic communication.
- The General Meeting may be held at the registered seat of the Company or in Warsaw.
- The General Meeting may adopt its Rules and Regulations.
- The Supervisory Board performs constant supervision over the activities of the Company in all areas of its operation.
- The Supervisory Board consists of five (5) to nine (9) members.
- The members of the Supervisory Board are appointed by the General Meeting for a collective term of three (3) years.
- The Supervisory Board shall appoint from among its members a Chairman and a Vice-Chairman at the first meeting of a given term. The General Meeting shall be chaired by the Chairman, and in his or her absence by the Vice Chairman.
- The meetings of the Supervisory Board shall be convened by the Chairman, and in his or her absence by the Vice Chairman, the meetings of the Supervisory Board being held at least four times a year.
- Resolutions of the Supervisory Board shall be adopted by the absolute majority of votes. If votes are tied, the Chairman’s shall be the casting vote.
- The resolutions of the Supervisory Board may be adopted if all members have been notified of the date and place of the meeting in writing or by e-mail at least one week prior to the meeting and if at least half of them are present at the meeting.
- The members of the Supervisory Board may participate in adopting resolutions of the Supervisory Board by casting their votes in writing through another member of the Supervisory Board, however the vote in writing may not concern matters introduced to the agenda of the meeting at the meeting of the Supervisory Board.
- The Supervisory Board may adopt resolutions in writing or using means of direct remote communication. Such a resolution is valid if all the members of the Supervisory Board have been notified of the draft of the resolution.
- Members of the Supervisory Board may receive remuneration determined by resolution of the General Meeting.
- The Supervisory Board may adopt its Rules and Regulations.
- The Management Board consists of one (1) to five (5) members, including the President of the Management Board. The term of office of members of the Management Board shall be three (3) years.
- In case of the one-person Management Board, the member of the Board is individually entitled to make statements on behalf of the Company whereas in case of the Management Board consisting of two members of the Board – they shall represent the Company jointly or separately, each of them acting with a proxy.
- The members of the Board are appointed and dismissed by the Supervisory Board.
- The Management Board may adopt its Rules and Regulations.
Sharing Percentage and Capital of the Company
- Shareholders are entitled to participate in the profit disclosed in the audited financial statements, which was designated by the General Meeting to shareholders.
- The Company shall create a capital reserve to cover losses. The capital reserve shall consist of eight (8) percent of net annual profit, until the capital amounts to one third (1/3) of the share capital.
- The General Meeting may decide to establish other reserves to cover particular losses or expenses (reserves).
- The General Meeting shall establish the way to use the reserves.
- The Management Board is hereby authorized to pay to shareholders an advance on the dividend expected as to the end of the operating year, if the Company has sufficient funds. The payment of the advance requires the consent of the Supervisory Board.
The Company maintains its accounting records and books of account in accordance with the law applicable in the Republic of Polish.
The Company’s operating year begins on April 1 of the calendar year and ends on 31 March of the following calendar year.
- The Company shall publish its announcements in “Court and Commercial Gazette”, unless the regulations provide otherwise.
- In matters not regulated by these Articles of Association, the provisions of the Commercial Companies Code shall apply.