SFS GROUP PLC - Corporate Governance

SFS Group applies the corporate governance principles emanating from the Companies Laws, and its own internal corporate governance principles and procedures.

Between others, the Board of Directors of SFS Group has adopted the following principles:

A proper system of internal control will be maintained in order to safeguard the shareholders’ investment and all the assets of SFS Group;
The Board of Directors will review, at least once a year, the effectiveness of the internal control system and certify this to the shareholders in the Corporate Governance Report;
The Board of Directors will ensure that any transactions with members of the board or with shareholders are carried out at arm’s length and do not harm in any way the interests of SFS Group.

Further, the BoD

Closely monitors:
- the procedure for the provision of financial information of the Company, in accordance with the Transparency legislation and the Company Law, and
- the effectiveness of the systems of internal controls and of the risk management systems, where these are applied by the companies of the SFS Group.
Supervises the compulsory audit of the annual and consolidated accounts of the Group.
Checks and monitors the independence of the appointed external auditors of the Group, and especially the provision of any additional services by them.

The financial reports of SFS Group Public Company Limited (‘SFS Group’) are prepared so as to comply at all times with:

The provisions of the Companies Law, Cap.113
The applicable International Accounting Standards
The Securities and Cyprus Stock Exchange laws and regulations
The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law of 2007 and 2009, as amended

and to

Give a true and fair picture of the financial position of SFS Group, as well as, a detailed, balanced and comprehensible evaluation of its condition and prospects.

SFS Group shall inform the investing public, on an annual basis, and at any other time this may be deemed expedient, with respect to the internal governance rules which, at the time, shall regulate the operation of SFS Group, as these shall be determined by the Board of Directors from time to time.

Ellinas House, 6 Theotoki Street
P.O.Box 22379,
1521 Nicosia, Cyprus

Tel:	+357 22 554 200
Fax:	+357 22 433 038
Email:	info@sfsnet.com

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