At the end of each fiscal year, the Supervisory Board and the Directorate prepare a statement assuming the compliance with all the regulations and procedures approved by the company, in accordance with the laws governing the activity of CE Oltenia.
Statement of compliance
The Supervisory Board and the Directorate of Societatea Complexul Energetic Oltenia S.A. stated that throughout the fiscal year 2014 the Company fully complied with the Government Emergency Ordinance No. 109/2011 concerning the corporate governance of public enterprises, the Articles of Incorporation, and the provisions of the Corporate Governance Regulation and the Organisational and Operational Rules of the Supervisory Board, existing within the company.
Furthermore, they stated they have been conducting the business in the best interests of the company and shareholders, in full compliance with its strategic objectives.
They have also contributed to maintaining the ethical principles in the workplace and in relationships with collaborators and investors, established by the Code of Conduct and have provided transparency of business.
They have taken note of the proposals of the committees established within the Supervisory Board and have decided accordingly to eliminate the main risks that could affect the proper conduct of the company’s business.
They have fully complied with the provisions of laws, the Code of Conduct and the Corporate Governance Regulation with respect to the provision of confidential information and secrecy obligation regarding all information concerning the company.
