Equity relations:
Alma Market S.A. is the controlling entity of the Group, and owns: 100% shares in Krakowski Kredens Tradycja Galicyjska S.A. – joint-stock company, 100% shares in Alma Development Sp. z o.o. - limited liability, 100% shares in Paradise Group Sp. z o.o., 100% shares in AM1 Sp. z o.o. - limited liability , 100% shares in AM2 Sp. z o.o. - limited liability, 100% shares in Flor Sp. z o.o. - limited liability, 99,5% of contribution in Kraków 1- AM1 Spólka z ograniczoną odpowiedzialnością Spółka komandytowa - limited liability partnership, 99.5% of contribution in Kraków2-AM1 Spółka z ograniczoną odpowiedzialnością spółka komandytowa - limited liability partnership, 99,5% of contribution in Tarnów- AM1 Spółka z ograniczoną odpowiedzialnością Spółka komandytowa - limited liability partnership, 99,5% of contribution in Nowy Targ -AM1 Spółka z ograniczoną odpowiedzialnością spółka komandytowa w likwidacji - limited liability partnership under liquidation, 99.5% of contribution in Flor Spółka Spółka z ograniczoną odpowiedzialnością spółka komandytowa - limited liability partnership , and 50% shares in Krakchemia S.A – public listed company.
Parent Company
Group name: Alma Market Spółka Akcyjna Seat/address: 30-964 Kraków, ul. Pilotów 6 e-mail [email protected]
Statistical Identification Number (REGON) : 350511695
Tax Identification Number (NIP) : 676-001-67-31
National Registration Court (KRS) : 0000019474
Auditor in 2011 : Kancelaria Biegłych Rewidentów „KONTO” Sp. z o.o.
The Board of Directors: Supervisory Board:
Chairperson - Jerzy Mazgaj President of Supervisory Board - Andrzej Wyrobiec Vice Chairperson - Mariusz Wojdon Vice President of Supervisory Board - Barbara Mazgaj Vice Chairperson - Małgorzata Moska Secretary of Supervisory Board - Wojciech Mazgaj
Supervisory Board Member - Gwidon Wójcik
Supervisory Board Member - Ilona Malik Related entities to ALMA MARKET S.A.:
1) Krakowski Kredens Tradycja Galicyjska Spółka Akcyjna 2) Alma Development Spółka z ograniczoną odpowiedzialnością 3) Paradise Group Spółka z ograniczoną odpowiedzialnością 4) AM1 Spółka z ograniczoną odpowiedzialnością
5) AM2 Spółka z ograniczoną odpowiedzialnością 6) Flor Spółka z ograniczoną odpowiedzialnością
7) KRAKÓW 1 – AM1 Spółka z ograniczoną odpowiedzialnością Spółka komandytowa 8) KRAKÓW 2 – AM1 Spółka z ograniczoną odpowiedzialnością Spółka komandytowa
9) TARNÓW – AM1 Spółka z ograniczoną odpowiedzialnością Spółka komandytowa
10) NOWY TARG-AM1 Spółka z ograniczoną odpowiedzialnością Spółka komandytowa w likwidacji 11) FLOR Spółka z ograniczoną odpowiedzialnością Spółka komandytowa
12) Krakchemia Spółka Akcyjna Non-capital relations:
„PREMIUM CIGARS” Sp. z o.o. in Krakow
„PREMIUM CIGARS” Sp. z o.o. is an entity related to Alma Market SA via its key shareholder and Chairman of the Management Board of Alma Market SA. Jerzy Mazgaj, who holds 75% of shares and votes on GSM of Premium Cigars Sp. z o.o.
The key shareholder of ALMA MARKET S.A. is Mr. Jerzy Mazgaj, who holds as at 31 December 2011 – directly and indirectly - 1 567 800 of shares (28,19%), that gives 3 797 004 votes (47,70%) on General Shareholders Meeting.
Jerzy Mazgaj, together with his wife (who is the Vice Chairperson of the Supervisory Board) concluded with Alma Market SA the preliminary lease agreement of their property situated in Krakow. The Supervisory Board of Alma Market SA accepted the said lease agreement.
By the time Alma Market SA rents the said building for Alma Delicatessen store, a part of its building will be rent to Krakowski Kredens Tradycja Galicyjska SA., where it conducts retail sales of its products under the own brand and runs the office. In the current period and in the previous periods Alma Market SA did not conduct with Jerzy Mazgaj any transactions other than listed above.
Jerzy Mazgaj together with his wife Barbara Mazgaj (who is the Vice Chairperson of the Alma Market S.A. Supervisory Board) are the owners of the property at 33 Jodłowa street, which was rented to the Paradise Group sp. Z o.o. subsidiary.
Barbara Mazgaj (who is the Vice Chairperson of the Alma Market S.A. Supervisory Board) are employed in Paradise Group under the working contract.
Jerzy Mazgaj granted a long term loan under the arms' length rule to the related entity „Paradise Group” Spółka z ograniczoną odpowiedzialnością (limited liability Company) amounting to PLN 7 300 thousand before acquiring 100% of shares by Alma Market SA in the said Group. During 2011 all loans granted by Jerzy Mazgaj – the Chairperson of ALMA MARKET SA to Paradise Group Sp. z o.o. were paid back.
In the current reporting period and in the previous periods Alma Market SA did not conduct with Jerzy Mazgaj or with Barbara Mazgaj any transactions other than listed above.
All transactions concluded between related entities were typical and routine transactions concluded on an arm’s length basis and are presented in the below tables.
Below are presented balances and settlements with Premium Cigars Sp. z o. o., which is a related entity of Alma Market SA via its main shareholder and a Chairman.
I. Net revenues from sale of commodities, services and fixed assets
For 12 months
2011 2010
Affiliated companies
Revenues from sale of commodities and materials 2 2
Revenues from the sale of services 31 -
33 2
II. Purchase of materials, commodities, services and fixed assets
For 12 months 2011 2010 Affiliated companies Purchase of materials 78 16 Purchase of merchandises 945 638 Purchase of services 1 - 1 024 654
III. Accounts balances as at the reporting date from sales/purchase of goods/services/fixed assets: As at
2011-12-31
As at 2010-12-31
Receivables from related entities - -
Liabilities towards related entities 543 243
IV. Key Management Compensations – information on remunerations of key executive officers
Total value of remunerations and other employment related charges for key management (i.e. executives and supervisors) Financial year ended
31 December 2011 2010 Parent Company Management 2 316 1 914 Supervisory Board 429 408 Subsidiaries
Managers in the Parent Company 1 003 572
including those acting as:
- supervisors in the subsidiaries 224 94
- managers in the subsidiaries 779 444
Supervisors in the Parent Company 189 48
including those acting as:
- supervisors in the subsidiaries 189 48
- managers in the subsidiaries - -
Value of salaries, awards and other benefits, including benefits arising from incentive or bonus programs based on the Parent Company’s capital, including the programs based on bonds with priority right, convertible bonds, subscription warrants (in cash, in kind or any other form) repaid, due or potentially due, separately for each person regardless of the fact that they were included in cost or resulted from profit distribution – all are presented in the below tables:
Total value of remunerations and other employment related charges, individually for each executive on the position in 2011
Function / Position Name and surname In the Parent Company subsidiaries In the
Chairperson/ General Director Jerzy Mazgaj 1 432 962
Vice Chairperson/ Sales Director Małgorzata Moska 420 -
Vice Chairperson/ Managing and Financial
Total value of remunerations and other employment related charges, individually for each supervisor on the position in 2011
Function / Position Name and surname
In the Parent Company
In the subsidiaries
Chairperson Andrzej Wyrobiec 108 -
Vice chairperson Barbara Mazgaj 150 112
Secretary Wojciech Mazgaj 86 -
Member Ilona Malik 22 77
Member Gwidon Wójcik 43 -
Member Anna Wyroba 20 -
Incentive or bonus programs for the benefit of key management based on the capital, including programs based on bonds with priority right, convertible bonds and subscription warrants
On 31 December 2011, a subsequent edition of an incentive program ended. The program was launched in 2008 and directed to the executives and key management. On 25 July 2008, General Shareholders Meeting voted a resolution on granting key management free warrants entitling to purchase G-series shares of Alma Market in 2009-2011.
Within the incentive program, 132.000 G-series shares were acquired, out of total amount of 200.000 shares, which would have been acquired in G-series if the market conditions of the Incentive Program (i.e. share price) had been fulfilled in 2009-2011.
Entitled persons, who took part in the Incentive Program as well as paid and acquired shares were: the executives of Alma Market S.A – Jerzy Mazgaj – Chairperson (who took 52.800 G-series shares), Małgorzata Moska – Vice Chairperson who took 19.800 G-series shares, Mariusz Wojdon – Vice Chairperson who took 39.600 G-series shares.