RB 13/2014 (18.03.2014)

Subject: Appointment of a Management Board Member, Changes in the Company’s Management Board

Legal basis: Art. 56(1)(2) of the Public Offering Act – current and interim information

The Management Board of MCI Management S.A. announces that on 17 Mar. 2014, the Company’s Supervisory Board appointed Mr Cezary Smorszczewski as Management Board Member for a three-year term of office and entrusted him with the function of President of the Management Board. The Supervisory Board’s resolution came in force on the day of adoption.

Owing to the appointment of Mr Cezary Smorszczewski as President of the Management Board, the hitherto President, Mr Tomasz Czechowicz, by the decision of the Company’s Supervisory Board of 17 Mar. 2014, took up the function of Vice-President of the Management Board. The Supervisory Board’s resolution came in force on the day of adoption.

The appointment of Mr Cezary Smorszczewski as President has strengthened MCI’s competence with respect to buyout investments and the Company’s position on foreign markets, especially in the Central and Eastern Europe. Mr Smorszczewski will also become a vital shareholder of Private Equity Managers SA and will support MCI in fund-raising activities, in obtaining debt financing and in the PEM IPO.

Tomasz Czechowicz will remain a Management Board Member and will continue playing a key role in MCI. The former President will concentrate on investment activities in the Internet and new technology sector as well as on the portfolio management for current investments.

Current composition of the Management Board of MCI Management S.A.:

1. Cezary Smorszczewski – President of the Management Board

2. Tomasz Czechowicz – Vice-President of the Management Board,
3. Norbert Biedrzycki – Vice-President of the Management Board,
4. Sylwester Janik – Member of the Management Board,

5. Magdalena Piasecka – Member of the Management Board,

6. Wojciech Marcińczyk – Member of the Management Board

The appointed Members of the Management Board do not conduct any business activity which is competitive with respect to MCI Management S.A. with registered office in Warsaw, they are neither partners in any civil law or other partnerships which are competitors of MCI Management S.A. nor members of governing bodies in any companies or any other legal entities whose business is competitive with respect to MCI Management S.A. and they are not registered in the Register of Insolvent Debtors maintained under the National Court Register Act.

Information concerning the education, qualifications and previously held positions, together with a description of the professional experience of the appointed Management Board Member:

Cezary Smorszczewski

Cezary Smorszczewski graduated from the Sanitary and Water Engineering Faculty at the Warsaw University of Technology in 1991 and the Law and Administration Faculty at the University of Warsaw in 1993. In 1998, he was conferred a Master of Business Administration degree at the Graduate School of Business University of Chicago in USA. In 1993, he completed a post-graduate course in international trade law at the European University in Turin. In 1995, he obtained a Swiss government scholarship at the Swiss Institute of Comparative Law in Lausanne. In 1996, he completed an investment advisor course and a training in credit derivatives and structural financing organised by Merill Lynch in New York.

Professional experience:

His professional career began in 1992, when he worked as assistant in the VinsonElkins law firm. From December 1992 to December 1993, he worked in Polskie Górnictwo Naftowe i Gazownictwo (Polish Oil and Gas Company). From January 1994 to September 1995, he worked in the Capital Investments Office and the Credit Department in Bank Handlowy w Warszawie S.A. Alongside his professional career, in years 1992-1997, he continued his academic work as assistant in the International Private and Trade Law Institute at the University of Warsaw. In October 1995, he became Deputy Director of the Capital Markets Department in the Pekao SA bank. When he finished his employment in Pekao S.A., Mr Smorszczewski supervised the work of the Corporate and International Banking Division as Vice-President of the Management Board. In years 2004-2007, he was responsible for the international operations of PKN Orlen SA, he conducted the largest capital investments in the Czech Republic and Lithuania. In 2007, he became involved as one of the founders in the Alior bank establishment project, where he was responsible for operations, IT and corporate banking. After the bank’s IPO in 2013, he launched his own business in the financial services and M&A market.

Tomasz Czechowicz

A graduate of Wroclaw University of Technology, Warsaw School of Economics and Executive MBA at the University of Minnesota. In the years 1990-1998 Co-founder and CEO of JTT Computer SA , which he build into a leading Central European PC-assembly and distribution operations with USD 100M+ revenue . From May 1998 Founder and CEO of MCI Group. After acquisition of funding throw IPO on the Warsaw Stock Exchange in 2001 the value of MCI’s investment portfolio grew from USD8M to more than USD 200M. MCI Group specializes in alternative assets management with a focus on private equity investments across Central Europe in following sectors: TMT, Financial Services, Healthcare and Lifescience/Biotechnology. Tomasz Czechowicz is a laureate of numerous prestigious awards: The TOP Manager of the Year 2007 prize for Mr. Tomasz Czechowicz is unexceptionable proof that his successfully accomplished strategy within the MCI Group makes him one of the most effective managers of innovative economy in the region of New Europe. Already in 2001, his exceptional feeling for the market, professionalism, vision and business efficacy caused the World Economic Forum to award Mr. Tomasz Czechowicz with the title of Global Leader for Tomorrow. In 2000 chosen one of the TOP-10 most influential people in the European Internet by European Edition of Business Week. Since then the Managing Partner of MCI Management SA has consistently been accomplishing his self-designated goals and priorities aimed at increasing the worth of the MCI Group and building a strong and recognizable brand in the region of Central Europe.

Magdalena Pasecka – Member of the Management Board
Tomasz Czechowicz – Vice President of the Management Board