Corporate Governance

ALTA operates in accordance with Polish corporate governance, following the Code of Best Practice for WSE Listed Companies.

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In the communication of 26 February, 2008 about the implementation of rules set forth in the Code of Best Practice for WSE Listed Companies, the Supervisory Board and the Management Board stated that the Company meets the majority of corporate governance rules. This principle was also observed by the Company and its bodies throughout the year 2013.

Derogations from the rules of Corporate Governance:
•By way of Resolution No. 6 of 6 May 2008, the General Meeting decided to observe the rules of Corporate Governance laid down in the part referring to shareholders. However, in the Article 2 thereof the General Meeting decided that until a different decision, the Company’s General Meetings shall not be broadcast on the Internet, and the conduct of meetings shall not be recorded or publicized on the Company’s website.
•The Company published a corporate website in English, its scope however, has been narrower than set forth in the Code of Best Practice for WSE Listed Companies. The Company Management Board decided not to translate either current or periodic reports into English, and justified its decision by the past practice in dealing with foreign investors.

SOCIAL RESPONSIBILITY

In its activity, the Company also strives to contribute to social welfare. In places where investments are carried out, efforts are made to engage into a dialogue with local communities, to understand local needs, and finally to meet them in the best possible way.
In the summer season of 2013, the Company Port Jachtowy Nieporet engaged in the following actions for the benefit of the community living in the neighbourhood of the investment in Siewierz-Jeziorna, on the banks of Przeczycko-Siewierski lagoon:
•In July 2013, on the banks of Przeczycko-Siewierski lagoon (included in the Company investment map), the Company, together with Siewierz Municipality, organized sailing day camps for teenagers. Throughout the whole month the day camps welcomed over 60 children, who learnt to sail on small sports yachts.
•In September 2013, at the end of the sailing season, the Company organized regatta connected with a family picnic.

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