The Company adheres to Corporate Governance principles, as these have been defined both by current Greek legislation and international practices.

As a set of rules, principles, and monitoring mechanisms, which form the base upon which the Company is organised and managed, Corporate Governance aims to promote transparency to the investing public and safeguard the interests of the Company’s shareholders and all those related to its operation.

The Company complies with the Hellenic Corporate Governance Code (from now on referred to as the “Code”), which replaced the one Hellenic Federation of Enterprises had laid down for listed companies in March 2011.

The Code can be found at the following website: https://www.athexgroup.gr/el/web/guest/esed-hellenic-cgc

In reference to any particular Practices contained in the Code, which, however, derive from withdrawn or amended legislation (see Law 3693/2008), the Company follows and applies provisions of the current Greek legislation.

The Company may make amendments to the Code and the Corporate Governance Principles it adheres to and will inform the investing public accordingly by posting relevant announcements on its website, namely http://www.premia.gr/en/corporate-governance-code/

Deviations from the Corporate Governance Code

PREMIA SA complies with the general principles of the Corporate Governance Code with only marginal deviations from the general or specific principles provided for listed companies. These deviations are due to the Company’s particular characteristics, size and existing organisational structure and are listed in the following table.

  • There is no budget allocated to the audit committee to allow out-sourcing consulting services. This is due to the Company’s size and scope but also to its members’ knowledge and expertise that both ensure its effectiveness.
  • The Company has not issued Rules of Procedure to dictate the Board of Directors’ operation, as the provisions of the Company’s Articles of Association and Internal Regulations are considered well-sufficient for its organisation and operation.
  • There is no induction or training for the Board members, as only persons with relevant competence and proven track record at the Company’s industry are proposed to be elected to the Board of Directors.
  • In addition, criteria such as each Board member’s career course and relevance to the Company’s scope and business, legal and financial calibre are all factored in during the selection process.
  • There is no established procedure to evaluate the Board of Directors’ and its Committees’ effectiveness since it is not deemed necessary considering the Company’s organisational structure.

The aforementioned corporate practices constitute the framework the Company has set and the measures it has taken to keep potential additional risks that may arise due to non-compliance with Special Practice A.1.2.a of the Greek Code of Corporate Governance to a minimum.