2.2 PZU Group companies and associates

¹⁾ On 1 June 2018, the shareholder meeting adopted a resolution to dissolve the company and open its liquidation process.
²⁾ As a result of the transaction described in item 2.4.4, starting from 4 June 2018 PZU became the direct holder of 33.5% of PFS shares and Pekao’s share fell to 66.5%.
³⁾ Direct subsidiary of Alior Bank, in which Alior Bank holds a 100% stake (as at 31 December 2017: 60.16%). As a consequence, the PZU Management Board considers the PZU Group to be in control of the company.
⁴⁾ On 6 September 2018, Elvity merged with NZOZ Trzebinia. The transaction had no effect on the consolidated financial statements.
⁵⁾ On 7 January 2019, an application was filed with KRS on the liquidation of the company.
⁶⁾ As at 31 December 2018, the funds PZU FIZ Sektora Nieruchomości and PZU FIZ Sektora Nieruchomości 2 conducted their investment activity through (consolidated) subsidiary companies established under commercial law as special-purpose vehicles whose number in the respective funds was: 18 and 18 (as at 31 December 2017: 15 and 20, respectively).
⁷⁾ The percentage of votes held by PZU is different from the stake held in the share capital, and both as at 31 December 2018 and as at 31 December 2017 it was 25.44%. The difference between the percentage of votes and the stake in the share capital results from the fact that holders of non-controlling interests hold certain shares preferred as to the voting rights.
⁸⁾ Pekao’s associate, in which it holds a 40.00% stake. Consequently, the PZU Management Board recognizes that the PZU Group has significant influence over this company.
⁹⁾ Alior Bank’s associate, in which it holds a 20.00% stake. Consequently, the PZU Management Board recognizes that the PZU Group has significant influence over this company.