The Corporate governance of FairPlay Properties REIT is based on the following basic principles:
- Protection the rights of shareholders;
- Equal treatment of all shareholders, regardless the size of their capital and their national identity;
- Recognizing the rights of the parties by law;
- Disclosure of information about the Company and transparency;
- Responsibilities of the governing bodies.
The National Corporate Governance Code (NCGC) was adopted in October 2007.
FairPlay Properties REIT has signed a declaration that accepts and operates its activity in accordance with The Code’s provisions.
The disclosure of corporate governance information is based of compliance with the present Code in accordance with the “Comply or explain” principle. This principle requires company to comply with the recommendation of the Code or to explain the reasons for not complying with individual provisions of the Code.
The company’s report “Comply or explain” is an inseparable part of the Annual Financial Statements.
This report provides information on the implementation of The Code’s recommendations.
According to By-laws of FairPlay Properties, The company shall have one-tier management system. The Company’s bodies shall be the General Meeting of the shareholders and the Board of Directors.
The General Meeting shall consist of all shareholders with the right to vote. The shareholders shall participate in the General Meeting personally or through an attorney with a written proxy given for that particular meeting and authenticated by a notary under art. 116, para. 1 of the LPOS.
The General Meeting shall be held at the domicile of the Company. The Annual General Meeting shall be held until the end of the first half of the year after the end of the reporting year.
The General Meeting shall be convoked by the Board of Directors. The General Meeting may be convoked by demand of the holders of 5% of the shares of the Company as well.
The General Meeting shall be announced through an invitation in the Commercial register, there shall be at least 30 days between the publication and the date on which the meeting is held.
