In 2017, the Company and its authorities are subject to corporate governance rules, which are de-scribed in the set adopted by Resolution No. 26/1413/2015 of the Supervisory Board of the Warsaw Stock Exchange on 13 October 2015 as “Code of Best Practice for WSE Listed Companies 2016” (“Best Practice”, “DPSN”) and were posted on the Warsaw Stock Exchange's website and the Company's website in the "Investor Relations" tab.
On 7 June 2017, Energa SA published information through the EBI system that the Company does not apply certain principles set out in the Best Practice, that is:
Principle III.Z.3 – the Company does not meet the requirement of standard 1110-1 only in respect to the organizational independence, that is appointment and dismissal of an Internal Audit Head and approval and changes of his/her remuneration. The standard mentioned above is defined in the International Standards for the Professional Practice of Internal Auditing by the Institute of Internal Auditors. Additionally the Internal Audit Head is not functionally subordinated to the Supervisory Board.
Principle V.Z.6 – The Company has implemented a Code of Ethics which lays down a number of rules that define the behaviors which the Company intends to follow in its relations with the external environment and within the Energa SA Group. The Company is of the position that issues related to the identification, prevention and resolution of conflicts of interest should also be addressed in its internal regulations. Accordingly, the Company will take steps to ensure that such provisions are included in its corporate documents.
Since no decision on the publication of projections has been made, in light of the Finance Minister’s regulation on current and periodic information of 19 February 2009, detailed principle I.Z.1.10 was also not be applied.