Ad-hoc Report - Changes of compliance status with the Bucharest Stock Exchange Corporate Governance Code
In compliance with Law no. 24/2017 on issuers of financial instruments and market operations and Financial Supervisory Authority Regulation no. 5/2018 on issuers of financial instruments and market operations
Date of report: April 19, 2019
Name of issuer: OMV Petrom S.A.
Headquarters: Bucharest, 22 Coralilor Street, District 1, („Petrom City”)
Telephone/fax number: +40 372 161930/ +40 372 868518
Sole registration number at the Trade Register Office: 1590082
Fiscal attribute: RO
Trade Register Number: J 40/8302/1997
Share capital: 5,664,410,833.5 RON
Regulated market on which the issued shares are traded: Bucharest Stock Exchange and London Stock Exchange
Significant event to be reported:
Changes of compliance status with the Bucharest Stock Exchange Corporate Governance Code
Aiming to increase the level of compliance with the provisions of the Bucharest Stock Exchange Code of Corporate Governance (“BSE CGC”), the Supervisory Board of OMV Petrom S.A. (“OMV Petrom”) approved the following changes in the membership of the Audit Committee, starting April 19, 2019:
- Mr. Jochen Weise was appointed as President of the Audit Committee. Mr. Weise previously held the position of Deputy President of the Audit Committee;
- Mr. Reinhard Florey was appointed as Deputy President of the Audit Committee. Mr. Florey previously held the position of President of the Audit Committee.
Thus, following the above, the membership of the Audit Committee is the following:
- Mr. Jochen Weise – President;
- Mr. Reinhard Florey – Deputy President;
- Mr. Radu Cojocaru – Member;
- Mrs. Sevil Shhaideh – Member.
All four members of the Audit Committee are non-executives, all being members of the Supervisory Board. Following the independence evaluation, it resulted that three of the members of the Audit Committee, namely Mr. Jochen Weise, Mr. Sevil Shhaideh and Mr. Radu Cojocaru, meet all independence criteria provided by the BSE CGC.
Consequently, OMV Petrom announces the change, effective April 19, 2019, of its compliance status with provision B.2 of the BSE CGC, namely “The audit committee should be chaired by an independent non-executive member”, from “ partial compliance” to “compliance”, as the President of the Audit Committee fulfils both the condition of being non-executive, and also the condition of being independent.
Chief Executive Officer
President of the Executive Board
Chief Financial Officer
Member of the Executive Board