Corporate Governance

The Estonian Financial Supervision Authority (the EFSA) has approved the Corporate Governance Recommendations, which entered into force on 1 January 2006.

Following the listing of the shares on the Tallinn Stock Exchange, the company is required to either comply with the recommendations or explain reasons for its non-compliance (“comply or explain” principle). The recommendations regulate, among other matters, the calling of and the procedure of the general meeting of shareholders, requirements for the compositions, duties and activities of the supervisory council and the management board, continuous disclosure requirements and financial reporting.

Corporate Governance Recommendations

Corporate Governance Report 2007

Corporate Governance Report 2008