Corporate Governance Report
The Corporate Governance Recommendations as adopted by the NASDAQ OMX Tallinn Stock Exchange and the Estonian Financial Supervision Authority (hereinafter CGR) is an advisory set of rules which provides guidance for conducting corporate governance and is applicable, above all, in respect of companies listed on the NASDAQ OMX Tallinn Stock Exchange.
The compliance with the principles of CGR is binding on the basis of “comply or explain principle”. In other words, the companies listed on the NASDAQ OMX Tallinn Stock Exchange are expected to publish a corporate governance report in the composition of their annual report outlining the principles of CGR which are not complied with accompanied by an explanation for such failure to comply.
As a general rule, AS PRFoods (hereinafter Group) complies with all principles set out in CGR. These reports outline the principles of CGR not fully observed by PRFoods describes the reasons thereof.
Since 2011, one of the priorities of PRFoods has been the improvement of the quality of the management of the company and the investor relations thereof, including paying more attention to the compliance with the CGR. In the opinion of the management of PRFoods, a remarkable development has been achieved in respect of improving the quality of the management of the company and the investor relations thereof since 2011. Complying with the established quality standards of the management of the company and the investor relations thereof continued during the financial year ended on 31 December 2015.