The Dutch Corporate Governance Code was last amended on December 8, 2016. As of 2018, Dutch listed companies are required to report for the first time on compliance with the revised Code for the financial year 2017. The full text of the Dutch Corporate Governance Code can be found on the website of the Monitoring Commission Corporate Governance Code (www.mccg.nl).
ASMI applies the relevant principles and best practices of the revised Code applicable to the Company, to the Management Board, and to the Supervisory Board, in the manner set out in the Corporate Governance section, as long as it does not entail disclosure of commercially sensitive information, as accepted under the Code.
ASMI agrees with principle 3.2.3 of the Code that in most circumstances a maximum severance payment of one year for Management Board members is appropriate. However, we want to reserve the right to agree to different amounts in case we deem this to be required by the circumstances. Any deviations will be disclosed.
The members of the Management Board state that, to the best of their knowledge, the statutory financial statements prepared in accordance with IFRS-EU and Title 9 of part 2 of the Dutch Civil Code as included in this Annual Report 2017 provide a true and fair view of the assets, liabilities, financial position, and results of the Company and its subsidiaries included in the consolidated statements and that the management report provides a true and fair view of the position and the business of the Company and its subsidiaries, and the Annual Report 2017 provides a description of the principal risks and uncertainties that the Company faces.
ASMI complies with the Corporate Governance Code. All required information is part of this Annual Report.
Corporate governance-related documents are available on our website. These include the Supervisory Board Profile, Supervisory Board Rules, Management Board Rules, the Audit Committee Charter, the Nomination, Selection and Remuneration Committee Charter, the Code of Ethics, the Whistleblower Policy, the Anti-Fraud Policy, the Rules concerning Insider Trading, and the Remuneration Policy.
The Management Board states that the information required under Article 10 of the EU Takeover Directive Decree is disclosed in this Corporate Governance chapter to the extent that it is applicable to ASMI.