Related party transactions

Last modified: 21.11.2019

Related party transactions

Pursuant to the Finnish Corporate Governance Code, Optomed Plc shall define the principles regarding the evaluation and monitoring of related party transactions. The company keeps a list of related parties.

The related parties of the company include its subsidiaries as well as certain major shareholders of the company, i.e. Halma Venture Limited and Cenova Capital (China) (Alnair Investments, Cenova China Healthcare Fund IV and Shanghai Cenova Innovation Venture fund are controlled by Cenova Capital (China)). Related parties also include key management personnel and their close family members as well as entities controlled by these persons. The key management personnel of Optomed include the members of the Board of Directors and the Leadership Team.

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. Pursuant to the Finnish Companies Act (624/2006, as amended), 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.