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Corporate Governance Report
RECOMMENDATIONS (Corp. Gov. Code)
COMPLIANCE
II.1.1.3. Management and supervisory bodies shall ensure
the creation and operation of internal control and risk management
systems, lying with the supervisory body the responsibility for the
assessment of these systems’ operation and the proposal of any
adjustments to the company’s needs.
Complied with See Chapter II
Point II.6
II.1.1.4. Companies shall, in the annual Corporate Governance
Report: i) identify the main economic, financial and legal risks to
which the company is exposed in the exercise of its activity; ii)
describe the operation and effectiveness of the risk management
system.
Complied with See Chapter II
Point II.9
II.1.1.5. Management and supervisory bodies shall have
their own regulations, which shall be posted on the company’s
website.
Complied with
See Chapter II
Point II.7
II.1.2. INCOMPATIBILITIES AND INDEPENDENCE
II.1.2.1. The Board of Directors shall include a number of non-
executive members to ensure an effective capacity to oversee,
supervise and evaluate the executive members.
Complied with
See Chapter II
Point II.1 and
II.14
II.1.2.2. Within the non-executive directors there shall be an
appropriate number of independent directors, taking into account
the company’s size and its shareholder structure, which cannot, in
any case be less than one quarter of the
total number of directors.
Not complied
with
See Chapter 0
Point 04, II.1.2.2
II.1.2.3. The evaluation of the independence of their nonexecutive
directors by the management body shall take into account the legal
rules and regulations in force on the requirements of independence
and the regime of incompatibilities applicable to the members
of other social bodies, assuring coherency systematically and
throughout time in the application of independence criteria to the
entire company. The director which, in other corporate body, would
not be able to assume that quality under the applicable rules, shall
not be considered independent.
Complied with See Chapter II
Point II 1.2.3.