Corporate governance
Igoria Trade S.A. implemented the principles of corporate governance approved by Resolution No. 1404/2023 of the Management Board of the Warsaw Stock Exchange S.A. of December 18, 2023 “Good Practices of Companies Listed on NewConnect 2024”, taking into account the principle of proportionality resulting from the scale, nature and complexity of the activity. On the website, the Company provided information on the application of the above-mentioned corporate governance principles and on departure from the application of certain principles along with justification, for which no comments were submitted.
Igoria Trade S.A. (hereinafter: the Company) informs that it fully applies the Rules of Corporate Governance dedicated to Supervised Institutions that were issued by the Polish Financial Supervision Authority on the 22nd of July 2014 with the restrictions as follows as below:
| I. The following principles are applied by the Company in substance, taking into account the principle of proportionality, ie, the Company applies them in proportion to the scale and nature of its activities. |
| PRINCIPLE |
SUBJECT OF THE PRINCIPLE |
| § 25 point 1 |
Frequency of the Supervisory Board meetings: the Supervisory Board debates on meetings that are called as often as necessary, but no less than three times a financial year |
| II. The Company has decided not to apply the following principles because in the Company’s opinion, their use would be disproportionate to the scale and nature of the Company’s business and would be unduly burdensome and would generate additional costs. In particular, in the opinion of the Company, the existing composition of the management body ensures proper management and the Supervisory Board has independent control over the Company’s activities. |
| PRINCIPLE |
SUBJECT OF THE PRINCIPLE |
| § 13 item 1 |
Management body should be collegial |
| III. The following principles do not concern the Company’s business activities |
| PRINCIPLE |
SUBJECT OF THE PRINCIPLE |
| § 53 – § 57 |
Exercise of rights from assets acquired at the client’s risk – does not concern the Company’s activities |
