Naturally, we make certain that all of these measures are legal and ensure compliance with all legal regulations. Moreover, we have also been conforming to a major part of the statutes and recommendations of the German Corporate Governance Code. We attach particular importance to observing the following principles:

• Safeguarding the rights of our shareholders to co-determination and information:
  
  We report on our General Meeting via the Internet each year and make additional, comprehensive information available on our web site.
  
  Within the framework of our transparent information policy, we have been openly and promptly disclosing new facts and figures relevant to MVV Energie AG’s share price (ad-hoc press releases). In so doing, we have treated all of our shareholders equally. Whenever MVV Energie AG’s D&O or their close family members are involved in significant securities transactions with MVV Energie AG’s stock (Directors‘ Dealings), we make this public promptly.
  
  


• Co-operation of the Executive and Supervisory Boards:
  
  The prerogatives of the Executive Board and the flow of information to the Supervisory Board have been clearly defined: by means of the dictates of MVV Energie AG’s internal regulations and by the directives on reporting set down by the Supervisory Board. In this way, the Supervisory Board can ensure that it can continually perform its control function in timely fashion at any time. The two boards can thus coordinate the strategic direction of the enterprise and meet at regular intervals to discuss the progress of their strategies. As part of an additional control system, it is mandatory that key business transactions first be approved by the Supervisory Board. Risks involved in our business activities are handled by our risk-management and controlling systems.
  
  The Supervisory Board forms commissions to manage complex issues and questions of risk management as well as accounting principles and auditing. It also appoints and dismisses members of the Executive Board in light of age limits set down for said members.
  
  Candidates for the Supervisory Board are proposed in compliance with required levels of knowledge and experience. They are also subject to established age limits. Potential conflicts of interest involving members of the Supervisory Board must be disclosed to the commission.
  
  


• Consolidated Financial Statements and Accounting:
  
  We comprehensively inform the public on a regular basis about business developments and future planning at MVV Energie AG. In so doing, we orient ourselves both to national as well as to international standards (IAS and HGB). We also publish key developments in English and on our web site. Important events are announced on a financial calendar, which is also accessible to the public.
  
  Our consolidated financial statements are audited by independent auditors and are made available to the public within 90 days of the end of a respective fiscal year. Here we also report on our most important participations.