Corporate Governance Code

As of 13 November 2005 the Board of Directors validated the Corporate Governance Code of Uralsvyazinform, devised in pursuance of the Federal Financial Markets Service (FFMC) recommendations and in line with the best corporate governance practices. The code compliance is checked on the regular basis by the BoD’s Corporate Governance Committee. Uralsvyazinform has developed its corporate communications in adherence to the Code’s underlying principles which provide for:

• The ability to execute shareholder rights;
• Equal treatment of all shareholders including minority and international investors; all shareholders are entitled for an effective protection of their rights should they be violated;
• The strategic management of the company and effective control of the executive management activities, residing with the Board of Directors, who in turn, are accountable to the shareholders;
• Bona fide principles for the executive management;
• Complete and accurate disclosures with regard to the company’s financial and operational developments, shareholding structure, key corporate events;
• Proactive relations with investors, creditors and other involved parties in order to promote shareholder value and market value of securities, increase corporate ratings of the company;
• Maximized compliance with the current legislation;
• Execution of the effective controls over the company’s financial and operational activities.

We have adhered firmly to the principles we have set ourselves in the Corporate Governance Code. While due compliance with the Code enables us to develop the corporate governance practices, more so it helps USI as an issuer to gain easier access to the capital markets as we meet completely the relevant regulatory requirements.

Download Corporate Governance Code