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On July 4, the WSE Managing Board has adopted a new set of corporate governance regulations concerning listed companies. The regulations, assembled in "Best Practices of WSE Listed Companies" will come into effect on 1 January 2008.
The "Best Practices of WSE Listed Companies” aims to enhance transparency of listed companies, improve quality of communication between companies and investors, and strengthen protection of shareholders’ rights. The regulations refrain, on the other hand, from imposing a burden, on listed companies, unbalanced by benefits resulting from market needs. The Best Practices address, therefore, only those areas where their application may have a positive impact on market valuation of companies, thus reducing the cost of capital.
The Warsaw Stock Exchange provides a mechanism based on the “comply or explain” principle which equips the market with clear and unequivocal information about compliance with the corporate governance rules. The Warsaw Stock Exchange commits itself to promote corporate governance rules by rewarding companies that fully comply with the "Best Practices".
The English version of "Best Practises" will be published in full on the WSE web site at the end of this week.
