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Quiñenco S.A., RUT 91.705.000-7, is an open stock company organized in 1957 under Chilean law. In accordance with its by-laws, the Company's purpose is to carry out investment activities within the country's regulatory and taxation framework. Quiñenco's shares are traded on the Chilean stock exchanges.
Quiñenco's corporate governance practices are carried out in accordance with Law 18,046 On Open Stock Companies, the Open Stock Companies Regulations, Law 18,045 of the Securities Market, the regulations of the Superintendency of Securities and Insurances (SVS) and the company's by-laws. |
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Quiñenco has adopted a code of ethics for all of its executives and employees which is aimed at promoting honest and ethical behavior and which seeks to avoid conflicts of interest of any kind in order to ensure adequate disclosure of financial information and compliance with laws and regulations.
Quiñenco is committed to keeping its investors informed about its activities, and it complies with all the ethical and legal standards on information disclosure. |
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Quiñenco is governed by a Board of Directors, which according to the company's by-laws, is made up of seven directors elected at the company's Ordinary Shareholders Meeting. At the Meeting held on April 29, 2008, the Board was re-elected for a three-year term. The Board meets at least once a month, on pre-established dates; extraordinary meetings are summoned by the Chairman of the Board or requested by the absolute majority of the Board.
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The Board of Directors represents the interests of all shareholders and is committed to achieving sustained growth of the value of the company. Its main functions are to establish Quiñenco's strategic direction, its objectives and financial policies, as well as provide the necessary resources to allow management to accomplish its goals.
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The Directors' Committee, as defined and regulated by law 18,046 on open stock companies, must be formed by three members, the majority of which must be independent. Matko Koljatic, Gonzalo Menéndez and Hernán Büchi are the current members of the company's Directors' Committee. The Committee meets once a month, and its main functions are: 1) to review the independent auditors reports; 2) to review the financial statements and to issue an opinion on them before their submission to shareholders for approval;
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3) to review the remuneration and compensation plans of key managers and officers of the company; 4) to review transactions with related entities and prepare the corresponding reports; 5) to propose the appointment of the independent auditors and risk classification agencies to the Board of Directors, to be proposed at the Shareholders' Meeting, and 6) prepare an annual management report including, if it were the case, the main recommendations to shareholders. |
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