Corporate governance
Business year 2011/2012
In business year 2011/2012 (01.07.2011 - 30.06.2012) HELIO S.A. applies all of the rules of “The Best Practices of WSE Listed Companies” (Chapter II-IV).
Business year 2010/2011
In business year 2010/2011 (01.07.2010 - 30.06.2011) HELIO S.A. applied all of the rules of “The Best Practices of WSE Listed Companies” , excluding fragmentary departure from Principle I.1. Though in the business year 2010/2011 the Company pursued a transparent and effective information policy, including active actions undertaken within investors relations under the Liquidity Support Programme, the Issuer departed from transmission of enable on-line broadcasts of General Meetings and over the Internet, as well as record General Meetings of Shareholders, and publish the recordings on the Company website.
The report concerning application of rules of Corporate Governance in business year 2010/2011 was published on 31st October 2011 (under translation).
Business year 2009/2010
In business year 2009/2010 (01.07.2009 - 30.06.2010) HELIO S.A. applied all of the rules of “The Best Practices of WSE Listed Companies” , excluding fragmentary departure from Principle I.1. Though in the business year 2009/2010 the Company pursued a transparent and effective information policy, including active actions undertaken within investors relations under the Liquidity Support Programme, the Issuer departed from transmission of enable on-line broadcasts of General Meetings and over the Internet, as well as record General Meetings of Shareholders, and publish the recordings on the Company website.
The report concerning application of rules of Corporate Governance in business year 2009/2010 was published on 2nd November 2010.
Business year 2008/2009
In business year 2008/2009 (01.07.2008 - 30.06.2009) HELIO S.A. applied all of the rules of “The Best Practices of WSE Listed Companies” , excluding fragmentary departure from Principle I.1. Though in the business year 2008/2009 the Company pursued a transparent and effective information policy, including active actions undertaken within investors relations under the Liquidity Support Programme, the Issuer departed from transmission of enable on-line broadcasts of General Meetings and over the Internet, as well as record General Meetings of Shareholders, and publish the recordings on the Company website. Significant costs connected with the referred transmissions in comparison with the Company’s size were the reason for such departure. In the nearest future the Company does not assume to arrange such transmissions.
The report concerning application of rules of Corporate Governance in business year 2008/2009 was published on 2nd November 2009 (below).
Business year 2007/2008
Due to the new rules of Corporate Governance (“The Best Practices of WSE Listed Companies”) had entered into force since 1 January 2008, in financial year 2007/2008 (01.07.2007 – 30.06.2008) HELIO S.A. applied rules of Corporate Governance in the following way:
- to 31 December 2007 according to issued “The Best Practices 2005” statement,
- since 1 January 2008 according to all of the rules of “The Best Practices of WSE Listed Companies”.
The report concerning application of rules of Corporate Governance in business year 2007/2008 was published on 25th November 2008 (below).
Information about the rules in the Company concerned changing the entity authorized to audit financial statements
Changing (selection) of the entity authorized to audit financial statements shall be made in the Company in accordance with the applicable laws. According to § 16 paragraph. 3 pts. 5 of the articles of association of the Company, the Supervisory Board of the Company appoints an auditor. The company has not introduced additional internal regulations in this area, but according to the Regulations of the Supervisory Board, the Supervisory Board shall appoint an entity authorized to audit financial statements in a manner ensuring its independence at performing the tasks entrusted such entity. A person providing services of an expert auditor shall make a declaration to the Company on meeting the statutory criteria of fairness and independence. Moreover according to the Regulations of the Supervisory Board, members of Supervisory Board should bear in mind the interests of the Company, therefore in selecting an entity authorized to audit the financial statements should include all aspects of cooperation with the auditor, including primarily experience, time availability, additional advice on keeping accounts, comprehensiveness of services, affordability and proximity locator.
The remuneration policy with regard to the supervising and managing bodies of HELIO S.A.
The remuneration policy embodies the summary of the general assumptions on the remuneration principles with regard to the supervising and managing bodies of HELIO S.A., thus providing an internal set of corporate governance principles on remuneration matters applied in the Company
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Reports concerning the CG are below
