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for in the Company’s Bylaws in accordance with the relevant laws
and regulations.
b)
Banks and Other
Lenders (i.e.
Creditors,
Institutional
Investors)
Careful attention shall be paid to Savola’s obligations to its banks
and financial institutions. Many lenders will have covenants in
place that require Savola Group to adhere to predetermined ratios
and other requirements in order to satisfy financing arrangements.
Board members need to have a clear understanding of these
requirements and ensure that management are appropriately
monitoring Savola’s position to ensure these covenants are not
breached and penalties or other consequences are not triggered. In
addition, care should be taken to establish open communication
with Savola’s financiers, engaging them in dialogue on a periodic
basis and responding positively to their information needs and
requests.
Savola shall respect its creditors and it is important to understand
and respond appropriately to the needs and expectations of the
shareholders. Savola needs to ensure that it balances the
expectations and demands of institutional investors against the
interests of shareholders as a whole, and to ensure that there is fair,
equitable and consistent treatment of all shareholders.
c)
Board members,
managers and
employees
Savola Group is committed to treating its people (Board members
and employees) with dignity and providing equal employment
opportunities for all employees in its employment practices,
including recruiting, compensation, professional development and
promotion. The Board of Savola Group believe in providing safe
and healthy working conditions, respecting human rights and
respecting employees’ rights. The Board of Savola Group expects
its employees to speak out when they see ethical lapses in light of
the whistleblowing policy approved by the Board. Board members
shall also be aware of the importance of employee support and
commitment to enable Savola to achieve its objectives.
d)
Customers and
Suppliers
The Board shall take an active interest in how Savola handles and
resolves customer complaints and not depend solely on
management. Pertinent statistics and key emerging issues outlined
in customer complaints shall be reported to the Board on a
periodical basis.
Savola Group is committed to providing end products of superior
quality, excellent services and value-adding solutions. Savola
Group seeks to deal with customers and suppliers in a
straightforward and honest manner. The Company additionally
seeks to build and maintain good relations with both its customers
and suppliers and shall ensure the confidentiality of information
related to them is protected.
e)
Community
Public expectations require companies to be socially responsible in
their operations and dealings with the community. This needs to
be considered as part of Savola’s decision-making processes and in
the conduct of its business activities. Failure to understand and
