CORPORATE GOVERNANCE

The code of corporate governance of KARATZIS SA focuses on applying the best governance practices in order to achieve both long-term company’s targets for growth and profitability as well as satisfaction and information to all interested parties on its environmental management and control.

The Code of Corporate Governance of Company KARATZIS S.A. follows the legislative framework as established by various laws, such as Law 3016/2002_”On corporate governance, payroll issues and other provisions", which defines the concepts and requires the existence of executive and non-executive Board members as well as the drafting of an internal regulation process by the Governing Council; Law 3693/2008 'Harmonization of Greek legislation with Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts towards the amendment of Council Directives 78/660/EEC and 83/349/EEC and the repealing of Directive 84/253/EEC and other provisions", where the creation of a commission check is imposed; Law 3873/2010 “Integration into Greek Law of Directive 2006/46/EC of the European Parliament and of the Council on the annual and consolidated accounts of certain types of companies and of Directive 2007/63/EC of the European Parliament and the Council on the requirement for a report by a free-lance expert in the event of merger or division of Limited Liability Companies", which emphasizes the requirement of summarizing the corporate governance statement in the Board’s annual report and notes the main points to be included.