Every year, Atlantic Grupa reconfirms its status as a leading regional distributor and one of the leading consumer goods producers in Southeast Europe. As a company whose shares are listed on the regulated market of the Zagreb Stock Exchange, we have reliably delivered the promised results for 37 consecutive quarters. On the basis of such performance, the capital market has recognized us as a transparent, responsible and promising company, and so have our shareholders. With constant work on building and development of quality working conditions and a distinct corporate culture, we have put additional focus on strengthening our management team and improving our capacities. At the same time, the company is continually devoted to managing risks, maintaining liquidity and managing its financial obligations. Thanks to all of those factors, a study by Euromoney, the world's leading financial magazine, proclaimed Atlantic Grupa the best-run company in Croatia and the best-run company in the food and beverage sector in Central and Eastern Europe in 2015.
In 2017 Atlantic Grupa received its fifth Prize for Best Relations with Investors, awarded by the Poslovni dnevnik business paper, which is a sign of recognition by the investment community of companies that have fair and transparent investor relations. The award has been bestowed for seven consecutive years now, and on all seven occasions Atlantic Grupa won one of the first three award placings. In 2017, the company also participated in various investor conferences across Europe and held numerous meetings with domestic and international investors.
Atlantic Grupa (as of December 31, 2017) has a stable ownership structure with 50.2% owned by Emil Tedeschi, 5.8% by Lada Tedeschi Fiorio, 2.0% by the European Bank for Reconstruction and Development, while pension funds hold 30.4%. In November 2015, the German Development Bank DEG sold the remaining share in the ownership structure of Atlantic Grupa through a transaction on the Zagreb Stock Exchange. The transaction significantly increased the proportion of publicly traded shares (free-float) to 38.0%. Today it stands at 44.0%.
Atlantic Grupa is a successful business system with companies in the region of Southeast Europe, in the West and the East. In its relations with all stakeholders, responsibility is an integral part of the development strategy of the company. Growth and expansion of business broaden the spectrum of responsibilities towards the internal and external environment. Also growing is the awareness of the possibilities and the need for the influence of the company on the improvement of the general conditions around us. The Award for the Best Corporate Governance in Croatia given to Atlantic Grupa at the 2016. Conference on Corporate Governance in Croatia by Poslovni tjednik, Lider and Research Centre, is another proof of that.
Since its foundation, and since its listing on the ZSE in particular, Atlantic Grupa has based its business activities on the Corporate Governance Code, which significantly improves the standards of business transparency in line with EU directives and the valid and relevant Croatian legislation. Atlantic Grupa has defined the procedures for the work of the Supervisory Board, the Management Board and other decision-making bodies and structures according to the aforementioned Code, ensuring thus avoidance of conflicts of interest, efficient internal control, and an effective system of accountability. The same Code also regulates the obligation to publicly disclose data in price-sensitive information categories, all in the effort to ensure the equality of treatment for shareholders and the transparency of information for the existing and future investors. In accordance with the consistent application of the principles of the Code, Atlantic Grupa is developing and operating in accordance with good corporate governance practices and strives to contribute to a transparent and efficient business and to better connections with the business environment in which it operates, by means of its own business strategy, business policy, key internal documents, and business practices.
In addition, Atlantic Grupa is a signatory to the Code of business ethics, whose initiator is the Croatian Chamber of Commerce. This Code has established the guidelines for ethical conduct of business entities within the Croatian economy. Such setting of ethical criteria contributes to a more transparent and efficient business operations and the better quality of business relationships between business entities in Croatia and the business environment in which they operate. By joining and accepting the Code of business ethics, the signatories commit themselves to responsible and ethical behavior towards other companies in the market, and to the development of quality relations and loyal competition. In accordance with the valid and relevant legislation, Atlantic Grupa has prepared the Statement of Application of the Corporate Governance Code, which confirms its operations and development in accordance with good corporate governance practices in all business segments. The Statement of Application of the Corporate Governance Code was published on the company website www.atlanticgrupa.com as well as on the official website of the Zagreb Stock Exchange.
With its public offering (end of 2007) and the listing on the official quotation of the Zagreb Stock Exchange, Atlantic Grupa further confirmed its commitment to transparent business and communication with all parts of the interested public. After the change of the Rules of the Zagreb Stock Exchange had opened the option of listing in the Prime Market in September 2018, Atlantic Grupa made a further step forward by switching from the Official Market of the Zagreb Stock Exchange to the Prime Market. Transparent communication with all stakeholders has been a tenet of Atlantic Grupa from its beginnings in business and there has been a constant effort to systematically improve this process over the last twenty years. For example, the Prospectus of the Initial Public Offering of the Atlantic Grupa stock has been rated as one of the most comprehensive and detailed thus far.
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