The principles of the Code are related to the protection of the interests of shareholders, the adequate balance and distribution of functions between company’s management and supervisory bodies, the adequate disclosure of the material information.
Although according to the Law on Securities Market, the Code is primarily applicable to those companies, which securities are listed on the VSE, other companies are also called to follow the recommendations of the Code.
While drafting this new Code specific consideration was given to the opinions of the listed companies, the Lithuanian Securities Commission, the Ministry of Economy, the Ministry of Finance, the market participants and the legal advisors. The most recent recommendations of the European Commission are also included in this Code.
According to the European Commission, about 40 corporate governance codes have been adopted in Europe during the last 10 years. Usually corporate governance codes are drafted by stock exchanges and are applicable to the companies listed on those exchanges.
For more information, please contact:
Gintare Blazyte, Marketing and Communications Specialist
Vilnius Stock Exchange +370 5 272 13 71
About OMX
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