Code of Conduct

Code of Conduct
  1. 1. The Code of Conduct of our Business Practices

    Our Company is determined to run our business according to the principles of Corporate Governance by sticking to the principles of accountability, transparency, equitable treatment, creation of additional value to the business in the long term, and the promotion of best practices by means of a Code of Conduct set for the business practices of our Company to be complied with as follows:

    1. Accountability for the results of one´s own decisions and actions
    2. The practice of transparency and frankness
    3. Equitable treatment of all parties
    4. Long-term value-added creation to stakeholders
    5. The promotion of best practices

  2. 2. The Code of Conduct with regard to Stakeholders

    2.1 The Conduct towards and the Accountability to Shareholders

    1. Duties are carried out in a faithful and honest manner, and decisions about any undertakings are honest and fair towards our major and minor shareholders, and for the benefit of all groups of persons concerned.
    2. The business of our Company is managed in such a manner so as to ensure growth and progress, stability, and appropriate rates of return for our shareholders.
    3. Duties are carried out skillfully and conscientiously, just like people with knowledge, experience, and expertise do it.
    4. Reports financial situation and the results of the work performance of our Company are equally and regularly and in total provided to our shareholders and according to the facts.
    5. No release company confidential data/information.
    6. No operations are carried out any conflict of interests to our Company.

    2.2 The Conduct and the Responsibility towards Employees

    1. Appropriate remuneration is paid to every employee according to his knowledge, abilities, responsibilities, and work performance.
    2. The appointing, the transferring, including the awarding or punishing of employees is done by using equitable treatment and in good faith, and is based on knowledge, abilities, and appropriateness, as well as the behavior or any acts committed by the employees concerned.
    3. Employees are treated with kindness and fairness and are taken care of by our Company paying attention to the importance of their further development, the transfer of knowledge and abilities by regularly providing opportunities for all of our employees.
    4. The regulations with regard to employees are strictly complied with.
    5. The working environment is consistently maintained in such conditions so as not to pose any danger to life and health or cause any bodily harm or damage the property of employees.
    6. The participation of employees in determining the direction of our work and the solving of problems of our Company is promoted.
    7. Opinions expressed and suggestions made by our employees of all levels are treated with equivalence and are equitably acknowledged.
    8. The basis of the treatment of our employees is human dignity and the respect for personal rights and duties.

    2.3 The Conduct towards and the Accountability to Customers

    1. Acting in accordance with contracts, agreements or various terms and conditions that have been agreed upon with our customers. In cases of our Company being unable to act accordingly, negotiations must be urgently conducted with our customers in advance in order to mutually search for solutions and prevent any damage.
    2. Determination to satisfy the needs of our customers making them have confidence in receiving a service of the highest quality under safe conditions and an appropriate technology including a continuously truly increased standard
    3. Revealing complete and correct data/information about our service and also promptly in cases of any occurrences and without distorting any facts. This also includes the maintaining of good and lasting relations
    4. The setting up of a service for customers to facilitate the filing of complaints to proceed quickly with responding to the wishes of our customers
    5. Running our business by having an appropriate cost of service as far as it is possible but by still maintaining the quality of our service up to standard
    6. Stressing the importance of keeping the secret data of our customers truly confidential permanently and not using said data for the benefit of our own Company or any persons concerned
    7. Not demanding and not accepting from, and also not giving any wrongful benefits in any form to our customers.

    2.4 The Conduct towards and the Accountability to Trading Partners

    1. Acting in accordance with contracts, agreements or various terms and conditions that have been agreed upon with our trading partners. In cases of our Company being unable to act accordingly, negotiations must be urgently conducted with our trading partners in advance in order to mutually search for solutions and prevent any damage.
    2. Equitable and fair treatment of all partners, which is based on the principle that both parties to an agreement receive fair remuneration.
    3. Not demanding and not accepting from, and also not giving any wrongful benefits in any form to our partners.

    2.5 The Conduct towards and the Accountability to Creditors

    1. Acting in accordance with contracts, agreements or various terms and conditions that have been agreed upon with our creditors. In cases of our Company being unable to act accordingly, negotiations must be urgently conducted with our creditors in advance in order to mutually search for solutions and prevent any damage.
    2. Regularly and punctually providing our creditors financial reports
    3. Not demanding and not accepting from, and also not giving any wrongful benefits in any form to our creditors.

    2.6 The Conduct towards and the Accountability to Competitors

    1. Acting and operating under the framework of fair competition
    2. Not trying to obtain any secret data of our competitors by inappropriate means
    3. Not damaging our competitors´ reputation by any inappropriate allegations.

    2.7 The Conduct and the Responsibility towards Society and the Environment

    1. Stressing the importance of activities of communities and society by putting emphasis on the creative development of society as a whole, the communities, and the environment, as well as the preservation of natural resources and the support of any activities for the public benefit
    2. Gradually creating awareness - in our Company and among our employees at every level - of the responsibility we have towards society and the environment
    3. Through cooperation and supervision ensuring strict compliance with the spirit of the law and the rules and regulations concerned
    4. Quick and efficient responses to any incidents, which may have a negative impact on the environment and communities, that are caused by the operations of our Company, and closely cooperating with state officials and the authorities concerned
    5. Firmly believing in the democratic system and encouraging employees to exercise their right to vote according to the Constitution.


This version of the Code of Conduct of Business Practices comes into force on 1st of January 2008