CORPORATE GOVERNANCE

INTECO’s corporate governance system builds on transparency, legal compliance and protecting the shareholder and investor rights.


CORPORATE GOVERNANCE PRINCIPLES AND SYSTEM

INTECO’s corporate governance practices are compliant with the applicable Russian laws, in particular, the Federal Law On Joint-Stock Companies. Corporate governance principles and procedures are laid out in the Company’s Charter and other regulations, including:

  • Regulation on the Board of Directors
  • Risk Management and Internal Control Policy
  • Regulation on the Internal Control Department
  • Regulation on the Corporate Secretary
  • Regulation on Communications and Functional Interaction between JSC INTECO and PJSC Bank TRUST (the sole shareholder)

The General Meeting of Shareholders is the Company’s supreme governing body. INTECO established the Board of Directors for the overall management of its business. INTECO’s President, its sole executive body, is responsible for day-to-day operations.

Since 2017, INTECO’s charter capital has amounted to RUB 1,501,200,000 divided into 50,040,00 ordinary shares with a nominal value of RUB 30 each. The Company did not issue preferred shares.

Between 1 December 2011 and 25 October 2020, the Company’s sole shareholder was a limited liability company AUREVO LIMITED incorporated under the laws of the Republic of Cyprus on 28 June 2010 (registration number HE 269554).

On 9 September 2020, AUREVO LIMITED and National Bank Trust (short name PJSC Bank TRUST) signed a securities sale agreement with respect to a 100% stake in INTECO. On 26 October 2020, PJSC Bank TRUST became the Company’s sole shareholder. The relationship between INTECO and National Bank TRUST is governed by the Regulation on Communication and Functional Interaction between JSC INTECO and PJSC Bank TRUST approved by INTECO’s President on 21 December 2020.

The registrar responsible for maintaining and storing the Company’s share register is Independent Registrar Company R.O.S.T. (IRC — R.O.S.T., address: 18 Stromynka St., Bld. 5B, Moscow, 107076, Russia).

Corporate governance structure