Introduction clauses


Code of corporate governance (hereinafter referred to as the Code) sets the principles of corporate governance and supervision over management in the company Metalac a.d. and its subsidiaries (hereinafter referred to as the Company), based on principles suggested by The OECD Principles of Corporate Governance, and more precisely regarding issues like:

• Rights of shareholders
• Majority share of non-executive members as well as independent members in corporate governance bodies (Management and Supervisory Boards)
• Division of positions of President of the Management Board and of Managing Director as President of the Executive Board
• Forming of commissions of the Management Board
• Protection of interests of small shareholders
• Frequency of Management Board sessions and procedure of scheduling sessions and pre senting conclusions of the session as well
• Transparency in the work and use of internet

The Code is supplement to the on-force regulations established by the Law, Statute and Articles of Incorporation of the Company, meaning that no provision of the Code cancels any rule established by the mentioned Acts that may establish the same issue in other way, nor the Code rep eats liabilities, rules and principles established by the terms of the above mentioned governing documents, respected and applied by the Company.

As the principles of corporate governance established by the Code are aiming to upgrade economic efficiency, growth and development of the Company, its competitive advantages as well as confidence of shareholders and investors, the principles of the Code are evolutional and subject to changes. Following contemporary world trends and exchange of experiences in the field, as well as de velopments in macroeconomic policy, market economy, and culture of values and business ethics of the Company, the Management Board will make all necessary amendments and supplements to the Code, fully and regularly informing public about them on the Company’s web-site.



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