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In compliance with the principles of corporate governance, after the company’s listing to the Athens Stock Exchange, an Audit Committee has been set up comprising executive and independent, non-executive members of the Board of Directors in order to ensure the correctness and integrity not only of any information disseminated but also of the methods applied to control corporate functions.

The Audit Committee, as the article 44 of the L. 4449/2017 describes, is consisted of one non-executive member of the Board of Directors, Mr. Haim Nahmias and two independent non-executive members, Mr. Minos Moissis and Mr. Georgios Katsaros. They were all appointed by the Board of Directors.

According to the Internal Operating Regulations, the Committee shall be held four times a year, as well as after a request from the Chief Internal Auditor. The Internal Audit Committee members’ report to the Board of Directors officially once per year or otherwise each time a significant item arises from the Committee’s meetings. The Chairman of the Committee participates to the General Assembly of the Shareholders and submits reports concerning the Committee’s acts.

ased on the provisions of Article 44 of  L. 4449/2017, the Audit Committee also has the following obligations:

(a) to inform the BoD about the results of the mandatory audit;
(b)to monitor financial information procedure;
(c) to monitor the effective operation of the internal audit system, quality control system and risk management system as well as monitor the proper operation of the internal auditors unit of the audited entity;
(d) to monitor the performance of the mandatory audit of individual and consolidated financial statements;
(e) to review and monitor issues related to the establishment and maintenance of objectivity and independence of the legal auditor or the auditing firm, especially as regards any other services provided by the legal auditor or auditing firm to the audited entity;
(f) to choose the Chartered Accountants company and propose it to the BoD for hiring.
with respect to the shortcomings of the procedures related to financial information and the preparation of financial statements.