In accordance with the minutes dated December 30, 2016 No. 19 of the session of the Management Board of ASCO, the “Guidelines for Disclosure of Information on Azerbaijan Caspian Shipping Closed Joint Stock Company” (the Guidelines) were approved to increase transparency and to improve the effectiveness of the financial-economic activities of ASCO. The Guidelines regulates the mechanisms for disclosure of certain information, delivery of the necessary information to the relevant parties and monitoring mechanisms of such processes and determines the composition of information that needs to be disclosed.  The main objective of the principles of the Guidelines and disclosure policy of ASCO is to ensure transparency and publicity of its activities, increase reliability of the company for its business partners, other counterparts and state authorities including,  awareness by the concerned parties of the information associated with ASCO, and to establish equal condition  to obtain information, and to eliminate the presence of inaccurate information about ASCO and enhance ASCO’s reputation.

Under the terms of the Guidelines, ASCO shall ensure transparency of the operations and transactions to be disclosed by virtue of law by publishing thereof on the official website, magazines and newspapers and other media or disclosing them otherwise.

ASCO shall disclose the following information in accordance with the Guidelines :

  • financial statements for the reporting period (Annual financial statements on activities of ASCO shall be published along with the auditor report upon the end of each fiscal year and within the period specified in the “Guidelines for Submission and Publication of the annual financial reports and consolidated financial reports by Commercial Organizations” approved by the Order of the Cabinet of Ministers of the Republic of Azerbaijan dated May 27, 2010, no. 97)  ;
  • raised funds ;
  • significant agreements (special transactions) concluded by ASCO with the relevant parties (information on the conclusion of the agreement, with a value exceeding 25 per cent of the assets of ASCO, shall necessarily be published in the media) ;
  • governing bodies and officials of ASCO ;
  • dividends ;
  • acquisition or alienation of significant share ;
  • information on the shareholders of ASCO ;
  • information on the activities of ASCO.

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