I. GENERAL PROVISIONS
1.1. This Code of Corporate Ethics of the Closed Joint-Stock Company "Republican Universal Agro-Industrial Exchange" (hereinafter referred to as the "Company") has been developed in accordance with generally accepted principles of corporate conduct and the conditions of the Company's operations. The Code aims to ensure the effective protection of shareholders' rights and interests, fair treatment of shareholders, transparency in decision-making, and professional and ethical responsibility on the part of members of the Supervisory Board of the Exchange (hereinafter referred to as the "Supervisory Board"), other Company officials, and shareholders, as well as to enhance information transparency and develop a system of business ethics standards.
1.2. Corporate ethics is an integral part of corporate culture. The Code of Corporate Ethics is a significant factor in the development of corporate culture. The Code communicates ethical standards and values to all shareholders and employees of the Company and guides the Company toward the effective achievement of its corporate goals.
1.3. As corporate governance practices evolve, the Company will strive to further develop generally accepted principles of corporate conduct governing relationships among shareholders.
II. KEY PRINCIPLES OF CORPORATE ETHICS AND THEIR IMPLEMENTATION MECHANISM
2.1. The Company fosters corporate relations based on principles that ensure shareholders have a genuine opportunity to exercise their rights associated with participation in the Company and that promote partnership relations among shareholders.
2.2. The Company recognizes the importance of enhancing corporate ethics and strives to ensure openness and a constructive, amicable approach to resolving all issues.
2.3. The Company:
- ensures the observance of the rights and legitimate interests of the Company’s shareholders;
- precludes discriminatory policies and guarantees equal rights and opportunities for shareholders;
- recognizes the shareholder's inalienable right to participate in the management of the Company in accordance with the law;
- ensures that every shareholder has the opportunity to exercise their voting rights.
2.4. The Company establishes rules and procedures for the General Meeting of Shareholders that ensure equal treatment of all shareholders.
2.5. For their part, shareholders:
- are completely honest with one another;
- do not abuse the rights granted to them;
- refrain from actions intended to harm other shareholders or the Company;
- avoid using rude or offensive language toward other members of the Company;
- show tolerance and respect for the statements and opinions of other shareholders;
- adhere to the principle of criticizing an opponent's views and statements rather than the person themselves (or their physical attributes) during discussions;
- respect other shareholders and value their time by strictly adhering to the speaking rules adopted by the General Meeting.
2.6. In the event of conflicts, shareholders engage in open negotiations with the Supervisory Board and the Management Board and submit proposals to General Meetings, adhering to the principles of mutual respect and tolerance. In such instances, the shareholder has the full right to participate in Supervisory Board meetings.
2.7. Guided by the goals of the Company’s development and prosperity, shareholders:
- pursue a policy of modernizing the Exchange’s technological infrastructure and equipment to enhance competitiveness;
- ensure decent levels of social and financial support for Exchange employees to boost work incentives;
- make a tangible contribution to increasing trade volume by establishing and utilizing founding brokerage firms.
2.8. Other principles of corporate ethics:
- the principle of transparency. The Company’s goals, objectives, and operational aspects must be open and clear to shareholders and executive staff, who need to understand what they are doing and why. Only then can effective work motivation be fostered. This principle also applies to the provisions of the Code of Ethics itself;
- the principle of respect for human dignity. It is essential to remember that all activities are ultimately carried out for the benefit of people, and human dignity must not be compromised in the course of interactions. This applies to both management policy and direct interpersonal contact;
- the principle of participation. This applies to decision-making on important issues affecting the Company’s fundamental interests. Unilateral, forceful methods or the "railroading" of decisions should be avoided. Otherwise, there is a risk of encountering employee resistance, which can take highly sophisticated forms. Furthermore, involving employees in decision-making or the approval process fosters a sense of belonging and strengthens the concept of a "shared endeavor."
III. FINAL PROVISIONS
3.1. The Corporate Code represents a first, yet crucial, step toward establishing the ethics of relationships within the Company. Its adoption aims to foster a healthy psychological climate, harmonize interpersonal relations, build corporate spirit, and effectively achieve the Company’s development goals.
3.2. This Code is adopted by the General Meeting of Shareholders and serves as an internal document defining the ethical standards governing relationships within the Company.
3.3. A shareholder who violates the ethical standards set forth in this Code may be subject to a public reprimand by the Company; such a reprimand is to be issued during a meeting of the Supervisory Board or the General Meeting and communicated to all participants of the Company.
3.4. This Code has been adopted voluntarily by the shareholders and may be amended or supplemented by a decision of the General Meeting of Shareholders.