Pursuant to the Governance Code, Altia shall evaluate and monitor transactions concluded between the Company and its related parties and ensure that any conflicts of interest are taken into account appropriately in the decision-making process of the Company. The Company keeps a list of parties that are related to the Company.
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 reports the decision-making procedure applied in connection with the related party transactions that are material to the Company and that either deviate from the Company’s normal business operations or are not made on market or market equivalent 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.