Related party transactions
The Board of Directors of the Company has defined the principles regarding the monitoring and evaluation of related party transactions. The Company keeps a list of related parties. Optomed has set related party principles and related party transaction policy.
Transactions with any related parties are entered into on market terms and relevant decisions are taken in compliance with the Company’s approval policy and established decision-making limits. The Company’s finance and control function monitors related party transactions as a part of the Company’s normal reporting and control procedures and reports related party transactions on a quarterly basis to the Audit Committee. The Company’s Board of Directors decides on related party transactions that are not part of the ordinary course of business of the Company or are not concluded on market terms. Information on transactions concluded between the Company and its related parties is disclosed annually in the notes to the Company’s consolidated financial statements. In addition, the Company publishes such related party transactions to the extent required pursuant to the applicable legislation and the rules of Nasdaq Helsinki Ltd.