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JSC OGK-5 meets the high international corporate governance standards, pays much attention to its relations with shareholders and investors and complies with the information disclosure requirements set by legislation.
The corporate governance practice in the Company is built in conformity with the best international standards and recommendations set in the Code of Corporate Behaviour of the Federal Financial Markets Service, as well as the provisions of the Code of Corporate Governance of JSC OGK-5 ratified by the Company in 2006.
Corporate governance in the Company is based on the following principles:
Accountability
The Code of Corporate Governance envisages accountability of the Board of Directors of the Company before all shareholders in accordance with the legislation in force, and is the governing document for the Board of Directors in issues related to strategy planning, administration and control over the Company’s executive bodies.
Fairness
The Company undertakes to protect the rights of its shareholders and treat all shareholders on an equal basis The Board of Directors enables its shareholders to receive efficient protection if their rights are violated.
Transparency
The Company shall provide timely disclosure of credible information on all the important facts related to its activities, including information on its financial condition, social and environmental measures, results of activities, ownership and management structures; the Company shall provide free access to such information for all interested parties.
Responsibility
The Company acknowledges the rights of all interested parties envisaged by the legislation in force, and aims at cooperation with such parties in order to provide steady development and ensure financial stability of the Company. |