QPR Software Plc’s (QPR’s) management principles apply sound corporate governance and high ethical standards. They comply with the Finnish Limited Liability Companies Act, the Market Abuse Regulation and Securities Markets Act, QPR’s Articles of Association, other regulatory rules concerning the administration of public companies, as well as the Finnish Corporate Governance Code (effective as of January 1, 2016) and the Guidelines for Insiders (effective as of 3.7.2016) maintained by the Finnish Securities Market Association. The principles stated here are intended to only supplement legal provisions.
Information on compliance with the Corporate Governance Code
QPR Software Plc complies with the Corporate Governance Code 2016, issued by the Finnish Securities Market Association, from the beginning of the financial year starting on January 1, 2016.
Deviation from recommendations
QPR Software complies with the Finnish Corporate Governance Code with the following exception: the Board of Directors has not established any committees.
There are no separate committees, as the Board has not considered these necessary considering the size of the Group, the extent of the operations and existing monitoring systems. The Board as a whole is responsible for fulfilling the tasks of an audit committee and other committees.
Further, in view of the size of the Group, extent of the operations and existing monitoring systems, the Board has not considered these necessary of having a specific decision-making procedure for related party transactions.
Availability of the Corporate Governance Code on the Internet
The Finnish Corporate Governance Code is publicly available on the website of the Finnish Securities Market Association, at www.cgfinland.fi.