Corporate Governance

Corporate Governance Report

Novabase has been a publicly-traded company since July 2000. It operates according to a corporate governance model, updated on an annual basis, aimed at optimizing its performance and transparency to protect the corporate interests of its customers, investors, employees, creditors and business partners.

Shareholders approved a new corporate governance model at the Annual General Meeting of 20 April 2006, refining the model from 2005, in light of trends in best corporate governance practices, CMVM (Portuguese Securities Market Commission) recommendations on the management of listed companies and Novabase's experiences since its admission to trading on the Euronext Lisbon Official Stock Exchange.

This corporate governance model, which went into effect in 2006, completely fulfills the CMVM's 10 initial recommendations and 3 new subsequent recommendations with just one exception: it does not completely fulfill corporate rule 4 on the absence of measures to prevent the success of takeover bids. This is due to the existence of a shareholders' agreement aimed at ensuring stable company management which, from Novabase's perspective, safeguards corporate and shareholder interests.

Consult Corporate Governance Report .