Corporate Governance Statement
Teleste Corporation’s Corporate governance aims to organise management in a consistent and functional manner. The company’s governance is based on Finnish legislation and Teleste’s Articles of Association. Teleste shares are listed on Nasdaq Helsinki Oy. Teleste complies with the Finnish Securities Markets Act, the rules and regulations for listed companies issued by the Stock Exchange, including the Finnish Corporate Governance Code 2020, and the rules and regulations of the Finnish Financial Supervisory Authority. The Corporate Governance Code is available on the Finnish Securities Market Association’s website at www.cgfinland.fi/en/.
Since 1 March 2000, Teleste complies with the insider guidelines of the Stock Exchange in their valid form at any given time. These insider guidelines are complemented by Teleste’s internal guidelines. The company has confirmed the values applied to its operations.
Related Party Transactions
Teleste assesses and monitors related party transactions in accordance with the Corporate Governance and Teleste’s internal guidelines. Teleste strives to ensure that any conflicts of interest are taken into account in the decision-making process. The main rule is that all related party transactions always relate to Teleste’s normal business and are in line with the company’s purpose and conducted on normal commercial terms. The Board of Directors decides on related party transactions that are not conducted in the ordinary course of business or are not implemented under arm’s-length terms.
Teleste’s legal department is responsible for the identification of related parties and maintains up-to-date records of related parties for the purpose of identifying related party transactions. Information on related party transactions is provided in the notes of the financial statements