Treasury signals its new good will to foreign investors in gesture to KGHM

The Treasury Ministry has announced it intends to reinstate to the Supervisory Board of copper and silver producer KGHM a representative from Global Depository Receipts (GDR), who had been replaced last year, according to the strategy of the former Treasury Minister, by a representative of the minority shareholders. In addition to getting rid of the GDR representative, the Treasury last year also replaced its five representatives on the nine-person Supervisory Board, including Chairman Jerzy Zdrzalka, who had held the position since1997. The next extraordinary general shareholders' meeting will be held on April 19th. The changes to be introduced in the company's boards are consonant with the policy of the new Treasury Minister, Aldona Kamela-Sowinska, who wants to improve relations with foreign investors in general after the controversies created by her predecessor. (Reuters; Rzeczpospolita, p. B4), M.T.