• POL FSA issued final decision failure to notify MNI SA substantial shareholdings by Agata Piechocka, Andrzej Piechocki, Jerzy Poludnikiewicz, Marek Poludnikiewicz and Marta Szymanska.

Offering Act Breaches

• Res 259/2023 repealed parts of dec of 26 February 2021 and imposed on Piechocka fine of PLN 300,000 for failure to notify 17 times changes in total voting shares in MNI SA.
• Marek Poludnikiewicz fined PLN 260,000 for failure to notify 19 times of same changes.
• Piechocki fined PLN 300,000 for failure to notify 17 times same changes whereas Poludnikiewicz PLN 340,000 also for 17 times and Szymanska fined PLN 120,000 for 8.

Context and Decision

• Legal measures taken to counteract violation of provisions of Act of July 2005 on public offering as amended (Offering Act), in form of a decision of 30 June 2023, repealed decision of 26 February 2021, DPS-WPA1.456.29.2018.TK (decision), points II and IV.
• Re imposed fines per art 97 s1 item 2, 3 of Offering Act as worded, in force before entry into force of Act 31 March 2016 amending Act on investment funds, other acts.
• In connection with suspected violation of art 69 re holding shares in public company MNI SA in period 1 January 2015 to 3 June 2016, similar breach re holding of company's shares in period 4 June 2016 to 30 April 2017; more detail on each person breaches.
• The new decision states the original one remains in force in the parts not repealed.
• Information on legal measure taken to counteract violation of provisions of Offering Act made public immediately after decision delivered and notified to relevant persons.

Effectiveness

• The resolution comes into force on the day of its adoption i.e. 30 June 2023.