Silmäasema complies with current regulations and recommendations of the Finnish Corporate Governance Code 2015 for listed companies for monitoring related parties transactions.
The purpose of Silmäasema’s Guidelines on Related Parties is to ensure that any business transactions involving persons belonging to the Company's related parties are made independently and based on market terms. This also applies to business transactions that otherwise may raise suspicions on whether the transaction was made on market terms. The Company assesses and monitors that any related party transactions are overall in the best interests of the Company and that any conflicts of interest are duly taken into account when making decisions on related party transactions. The principles of the Guidelines on Related Parties are observed throughout the Group and in the decision-making concerning all of the Group companies.
The Group’s related parties include the parent company, Group companies as well as the companies belonging to the conglomerate owned by controlling owner Intera Fund II Ky. Related parties include the members of the Board and key executives as well as their close family members and companies controlled by them. Key executive persons are the CEO and the members of the Executive Board.
Silmäasema maintains an up-to-date register of major business transactions between the Company and its related parties and the key terms of such transactions. The information entered in the register is collected annually from the persons belonging to the Company's related parties. In addition, persons considered to be Silmäasema’s related parties are obliged to notify the Company's related party administration of any related party transactions which are being planned or which have come to their knowledge. Such notification must be made without delay after receiving such information.
The Company's related party register is not public, and any information entered in it will not be disclosed to third parties, with the exception of any authorities and the auditor entitled to receive such information. Any related party transactions will be processed in accordance with the Guidelines on Related Parties approved by Silmäasema’s Board. Any major transactions to be performed with Silmäasema’s management and its related parties shall be decided by the Board of Directors.