Key concepts such as transparency and accountability to and the participation of the shareholders form the basis for our policy. We do deem some of the guidelines to be irrelevant for a SmallCap company such as Hydratec. In that light and based on the fact that Hydratec has only 3 members of its none-executive board, no committees have been appointed.
Deviations from the Dutch Corporate Goverance Code are:
- III.5.1: Based on the relatively small composition of the non-executive board no specific sub-committees have been designated.
- IV.3.1: Webcasting of management presentations to shareholders are not held due to the fact that Hydratec is an auction stock. However copies of the management presentations to shareholders are published on the website of Hydratec.
- III.3.5: There is no maximum limit as to the term for members of the non-executive board. We believe that relevant experience and know-how are the key characteristics for the functioning of our non-executive board members.
- V.3.3: The organisation has no internal auditor. Annually the Supervisory Board examines whether the scale of the Hydratec activities is sufficient to remain this absence.