This Code of Corporate Governance adopts the optimum practices of corporate governance undertaken by the Company both on its own initiative and according to legislation (Law 2190/1920, Law 2778/1999, Law 3016/2002, Law 3693/2008, Law 3884/2010). Following
a) the Principles of OECD Corporate Governance as published in 2004,
b) the  Greek Code of Corporate Governance relating to the listed companies of the Hellenic Federation of Enterprises (“SEV”) as of January 2011, and
c) the generally accepted corporate governance principles applicable to Member States of the European Union were taken into account. This Code aims to:
i. Adopt optimum corporate governance practices to be implemented by the company,
ii. Improve information sharing with both private and institutional shareholders,
iii. Oblige the Company to effectively comply with the requirements of the new Law 3873/2010, which incorporated in the Greek legal framework the European Parliament Directive 2006/46/EC.
This code will be the reference framework on which the statement of corporate governance will be based, which, according to law 3873/2010, consists a separate section of the Annual management report of the Board of Directors and, more specifically, the corporate governance statement should include a reference to this corporate governance code implemented by the Company. TELIK0 JAN2011.pdf