21/10/20 18:49 MOEX (RUR): 59.30 change in % 1.90

Key principles

Corporate conduct is based on respect of the rights and legitimate interests of its stakeholders. It promotes effective corporate activities, including increases in the value of the Company’s assets, the creation of jobs and, support of the Company’s financial stability and profitability.

The main principles of corporate governance are:
• shareholders should fully participate in the management of the Company through shareholder meetings;
• shareholders should share in the Company’s profits;
• shareholders should benefit from high liquidity levels for stock transactions;
• corporate conduct shall provide timely disclosure of full and true information about the Company, including its financial status, economic indicators, and the ownership and management structure, in order to provide shareholders and investors with the ability to make well-founded decisions in a timely manner;
• the Board of Directors, who is accountable to shareholders, is responsible for the strategic management of the Company and exercises effective control over the activities of the executive bodies of the Company;
• the Board of Directors shall decide the strategic decisions of the Company and exercise effective control over the financial and economic activities of the Company;
• the Board of Directors shall meet regularly in accordance with an agreed timetable;
• committees of the Board of Directors shall review all significant issues;
• all executive bodies shall act in accordance with the financial and economic goals of the Company;
• remuneration of the General Director and corporate executives shall be made according to their qualifications and taking into account their actual contribution to the Company’s results;
• tight control shall be exercised over the confidentiality of information;
• in order to ensure effective operations, the management bodies shall always consider the interests of third parties, including the Company’s creditors, government, and municipal institutions on whose territory the Company or its subsidiaries are located;
• the management bodies of the Company shall promote the interests of its employees to ensure effective operation of the Company;
• cooperation between the Company and third parties shall be sought and encouraged in order to increase the value of the Company’s assets, the price of its stock as well as to create new jobs.