Corporate Governance | By-laws

• The board of directors of Sipef NV approved the first corporate governance charter (“Charter”) on 23 November 2005.
  The Charter was prepared in accordance with the provisions of the Belgian Corporate Governance Code (“Code”) that has been announced by the Corporate Governance Committee on 9 December 2004. This version of the Charter already coincided with various Royal Decrees implementing European rules on market abuse.

  Sipef NV currently uses the Belgian Corporate Governance Code 2009 as reference code. The corporate governance charter approved by the board of directors of Sipef NV is in compliance with the Belgian Corporate Governance Code 2009.
  

  As specified in the Code, Sipef NV must devote specific attention in a chapter of its annual report (the “Corporate Governance chapter") to factual information concerning corporate governance, any amendments to the corporate governance policy and relevant events in connection with corporate governance that have occurred during the previous year. The Corporate Governance chapter also provides a more detailed explanation of the deviations from the Code recommendations, in terms of the “comply or explain” principle, during the past financial year.
  
  SIPEF's Corporate Governance Charter is available as pdf download: (EN - NL - FR)

• The latest coordinated version of the by-laws of Sipef, dated June, 08-2011, can be downloaded here (only available in Dutch).