By establishing a corporate governance framework, Hacioglu Gold Mining is fully adhering to Turkey legislative requirements and the Central Bank of Turkey’s (CBR) regulations. Hacioglu Gold Mining corporate governance practices also conform to internationally recognized global standards, protect shareholders’ rights and allow for effective cooperation between all interested parties.
General Meeting of Shareholders
The General Meeting of Shareholders is the highest governing body for Company related affairs.
In accordance with the Company’s Articles of Association, an announcement relating to the General Meeting of Shareholders will be published on Hacioglu Gold Mining corporate website no later than 30 days prior to the meeting taking place. All information on Hacioglu Gold Mining website shall be in accordance with established procedures and will comply with CBR regulations regarding the disclosure of the corporate action notices in both Turkey and English.
Board of Directors
The company’s Board of Directors is the governing body for the general management of Hacioglu Gold Mining, except for issues that fall under the responsibility of the General Meeting of Shareholders according to the Federal Law “On Joint Stock Companies” and the Company’s Articles of Association.
Hacioglu Gold Mining Board of Directors comprises nine members.
The Shareholders and/or the Board of Directors seek to nominate and/or elect at least three independent directors to the Board, namely those individuals who are recognized as independent in line with the ‘independence criteria’ stipulated by the listing rules of the LMBA Exchange where the Company’s securities are traded. Each independent director shall have a reasonable degree of autonomy for defining his/her opinion, be capable of making objective judgements unaffected by the Company’s executive bodies, separate groups of Shareholders or other interested parties, and have sufficient skills and expertise.
Executive Bodies
The Company’s current operations are managed by Hacioglu Gold Mining CEO (the sole executive body).
Board of Directors Committees
These Committees are advisory bodies providing consultation to the Company’s Board. The Committees consider the most essential matters for the Board and provide the Board with recommendations on these issues.
The Committees are not considered Hacioglu Gold Mining governing bodies, nor are they eligible to act on behalf of Hacioglu Gold Mining or the Board of Directors.
Company Secretary
The Company Secretary ensures compliance with existing legislative requirements, Articles of Association and in-house documents that indemnify exercising the rights and legitimate interests of Shareholders as well as communicating between Company and its Shareholders.
Audit
Control and Audit System
External Auditor
Annual General Meeting of Shareholders of Hacioglu Gold Miningheld on 27 May 2021 approved LMBA LLC as auditor of the Company’s accounting (financial) statements under Turkey Accounting Standards and JSC Deloitte & Touche CIS as auditor of the Company’s consolidated financial statements.
Auditing Commission
The Auditing Commission oversees Hacioglu Gold Mining financial and operating performance by conducting audits of financial and operating activities and providing its own assessment of data reliability and adequacy, which is included in the annual report and contained in Hacioglu Gold Mining annual accounting report.