Grupa Azoty Zaklady Azotowe Pulawy : Current Report No. 14/2016 - Changes in the composition of the Management Board of Grupa Azoty Zakłady Azotowe PUŁAWY S.A.

Legal basis: Art. 56.1.2 of the Public Offering Act - current and periodic information

Text of the report: The Management Board of Grupa Azoty Zakłady Azotowe Puławy S.A. (the 'Company') reports that during its meeting held on April 5th 2016 the Supervisory Board passed resolutions changing the composition of the Company's Management Board.

The Supervisory Board appointed the following persons to the Management Board:
Mariusz Bober as Vice-President of the Management Board and also as acting President of the Management Board,
Jackek Janiszek as Vice-President of the Management Board, and
Zbigniew Gagat as Vice-President of the Management Board,

and suspended Marian Rybak, President of the Management Board, and Zenon Pokojski, Vice-President of the Management Board, from their duties.

The Supervisory Board's resolutions on the appointment and suspension of the Management Board members became effective as of their dates.

The Management Board further announces that the newly appointed members of the Management Board have submitted representations to the effect that they are not engaged in any activities competing with the Company's business and that they are not partners in any competing partnership under civil law or another type of partnership nor members of the governing bodies of companies or of any other competing legal persons.

The representations also contain statements that the new members are not entered in the Register of Insolvent Debtors maintained pursuant to the Act on the National Court Register.

The Company publishes, attached hereto, biographical notes of the newly appointed members of the Management Board.

Legal basis: Par. 5.1.22 of the Minister of Finance's Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated February 19th 2009 (consolidated text: Dz.U. of 2014, item 133).