WSE Group

As at December 31, 2011, WSE Group was comprised of the Warsaw Stock Exchange (the parent entity) and its three subsidiaries. In addition, WSE held shares in three associates.

Subsidiaries and associates of Giełda Papierów Wartościowych w Warszawie S.A. as at December 31, 2011 and the share held by WSE in these companies’ share capital.

Organization of the Group

The subsidiaries are fully consolidated from the date on which the control is taken over by the Group while the investment in associates is measured with equity method.

In addition to the above mentioned subsidiaries and associates, as at December 31, 2011, the parent entity held shares also in other companies:

  • Towarowa Giełda Energii S.A. (TGE),
  • S.C. Sibex - Sibiu Stock Exchange S.A.

In addition, the Company holds 13,100 shares of Miraculum S.A. acquired under a creditor agreement approved by the Creditor Meeting of Miraculum S.A.

Since 2008, the Group has operated a representative office in Kyiv (Ukraine), whose operations focus on promoting WSE amongst the Ukrainian investors, issuers and financial intermediaries. The representative office has no separate legal personality and does not carry on any profit earning independent business operations. In all its activities, the Representative Office acts on behalf and for WSE to the extent stipulated in the Representative Office’s Statutes and powers of attorney granted by the WSE Management Board, always in compliance with the laws of Ukraine.

The Group does not hold any branches or plants.