Announcement according to the international principle “comply or explain”
Joint Stock Company O’ZOG’IRSANOATLOYIHA INSTITUTI, in accordance with the decision of the general meeting of shareholders, the decision of the General Meeting of Shareholders dated 06/07/2016, the company accepted an obligation starting from 06/07/2016. follows voluntarily, demonstrating its commitment to honest and transparent business conduct, the recommendations of the Corporate Governance Code, approved by the minutes of the meeting of the Commission on improving the efficiency of joint-stock companies and improving the corporate governance system on December 31, 2015.
JSC O'ZOG'IRSANOATLOYIHA INSTITUTI during the period from January 1, 2021 to December 31, 2021 carried out its activities in compliance with the recommendations of the Corporate Governance Code (hereinafter referred to as the Code) and intends to comply with them in the future.
However, during the reporting period, the recommendations of the Code were observed with some exceptions.
I. Clause 15 of Chapter III of the Code:
According to the recommendation of paragraph 2, they delegate to the supervisory board the rights to determine the procedure, conditions for providing (receiving) and making decisions on charitable (sponsorship) or gratuitous assistance only within the limits established by the general meeting of shareholders and legislation, with the disclosure of information about this to all shareholders.
To fully comply with this principle of the Code, it is planned to submit the issue of the maximum amount of charitable (sponsorship) or gratuitous assistance to the general meeting of shareholders. At the same time, according to the charter of JSC O’ZOG’IRSANOATLOYIHA INSTITUTI, the Supervisory Board of the JSC is delegated the rights to determine the procedure, conditions for providing (receiving) and making decisions on charitable (sponsorship) or gratuitous assistance.
According to the recommendation in paragraph 5, they ensure that the general meeting of shareholders discusses the issue of determining transactions related to the current economic activities of the joint-stock company, for the executive body to independently carry out transactions with affiliates and major transactions.
According to the Law “On Joint-Stock Companies and Protection of Shareholders’ Rights” and the charter of JSC O’ZOG’IRSANOATLOYIHA INSTITUTI, the competence of the general meeting of shareholders includes the issues of making decisions on major transactions and concluding transactions with affiliates in cases provided for by law.
At the same time, the issue of determining transactions related to the current economic activities of O’ZOG’IRSANOATLOYIHA INSTITUTI JSC is scheduled for consideration at the general meeting of shareholders of O’ZOG’IRSANOATLOYIHA INSTITUTI JSC.
III. According to the recommendation of paragraph 4 of paragraph 22 of Chapter V of the Code: management methods successfully tested in foreign practice are widely used, including SWOT, GAP analysis and other approaches, special software products, etc.
O’ZOG’IRSANOATLOYIHA INSTITUTI JSC widely uses special software products in its activities. At the same time, it is planned to use management methods and other approaches at O’ZOG’IRSANOATLOYIHA INSTITUTI JSC, as well as finance the implementation of modern management systems.
Applications No. 2
MESSAGE FORM
on the adoption by the joint stock company of the recommendations of the corporate governance code in its activities
The joint stock company “Mortgage Refinancing Company of Uzbekistan” informs that by the decision of the sole shareholder dated 06/07/2016, the company accepted an obligation, starting from 06/07/2016, to comply with the Corporate Governance Code, approved by the minutes of the meeting of the Commission on increasing the efficiency of joint-stock companies and improving the corporate governance system dated December 31, 2015 No. 9 (registration No. 02-02/1-187 dated February 11, 2016)