Based on the results of the assessment of the company's corporate governance system for the 1st quarter of 2018:

State Enterprise Central Securities Depository presented a report, conclusion and recommendations on improving the efficiency of the corporate governance system of the company No. 11-15 / 114 OTs dated April 27, 2018.

According to the results of the assessment of the corporate governance system, the total number of points was 810 points, that is, 68%, and in the opinion of the Central Depository, the level of the corporate governance system in JSC “BIOKIMYO” is recognized as “high” based on the results of the assessment carried out at the end of the 1st quarter of 2018.

As a result of the study and assessment of the state of the corporate governance system, the following were identified:  

Remarks on non-compliance with the recommendations of the Code

Explanations

The long-term strategy of the company has not been approved

The society is unable to develop a long-term strategy, since the main economic and financial indicators of the strategy depend on the balance of production, which is annually approved by the Cabinet of Ministers of the Republic of Uzbekistan for one year.

Publication of information about the joint-stock company subject to mandatory disclosure with translation into English is not provided

As of today, the publication of obligatory disclosure of information about the joint-stock company has been ensured in English; the basic information, that is, 85%, about the joint-stock company and internal documents is published on the official website of the company.

Is there an opportunity for shareholders to vote by e-mail (with confirmation by an electronic digital signature).

The issue of creating the necessary conditions for voting by e-mail with confirmation of the digital signature is being considered. All opportunities have been created to send your opinion on interesting questions and appeals.

Is the information published on a “comply or explain” basis?

The publication of information on the principle of "comply or explain" is constantly provided on the official website of the company, from this year information on the principle of "comply or explain" by the end of 2017 will be published in MEDIA.

Lack of text of the announcement of the competitive selection of the head of the executive body

Due to the fact that in accordance with clause 9.1.4. of the current Charter of the JSC, it is envisaged to hold an annual General Meeting of Shareholders in the period from June 10 to 20, the text of the announcement on the competitive selection of the head, during the competition the text of the announcement will be published.

About obtaining a quality management system certificate

Received the national quality certificate ISO 9001: 2015 and ISO 22000.

The company carries out activities in the field of production of strategic raw materials, which are sold only to enterprises of the Republic of Uzbekistan. In this regard, a national quality management certificate was obtained and an audit is carried out once a year.

Based on clause 37 of the "Regulations on the procedure for certification of the management system" approved by the order of the Director General of the Uzbek Agency for Standardization, Metrology and Certification dated January 4, 2016, a quality audit that the relevant ISO standards are applied in the activities of the enterprise should be carried out no more than once a year.

To what extent is the development and marketing of new products in the JSC funded? It is recommended to spend at least 10% of net profit annually on financing new products

Preparatory work for the release of new products "BLESK" was carried out for the development of the release of which a part of the profit was directed. In the current year, part of the profits will be directed to forward-looking research, development and marketing of new products.