Corporate Governance

Corporate Governance Practices

The Company is listed on the Alternative Market of the Cyprus Stock Exchange (CSE), under which implementation of the CSE’s Code on Corporate Governance (Code) is not mandatory. The Company does not implement all theprovisions of the Corporate Governance Code. Ellinas Finance implements its own provisions of the Code on Corporate Governance and adopts partly the Code, as published by the Cyprus Stock Exchange. The Board of Directors comprises of five directors, out of whichfour are non-executive.

Corporate Govenance Reports

Board Committees

In line with the provisions of the Corporate Governance Code, the Board of Directors has established an Audit Committee. The composition of the Committee is as follows:

Audit Committee
Costas Melanides (Chairman)
Dr Yiannis Pitsillos (Member)
Phillippos Papadopoulos (Member)

Compliance officer
Constantinos Servos

Investor Liaison Officer
Nearchos Petrides

Internal Audit

The existence of a sound internal audit system is of utmost importance in safeguarding the interests of shareholders and the reliability of the Company. The Board of Directors of the Company has assigned responsibility for the internal audit of the Company to the independent auditors Reanda. Reanda, as the independent internal auditors of the Company, report directly to the Audit Committee and the Board of Directors. The audit is thorough and covers, among other, all the financial and operational systems, as well as the Company’s compliance and risk management systems.