Assigning National Corporate Governance Rating to PJSC TransContainer
The Russian Institute of Directors (the RID) assessed corporate governance practices of PJSC TransContainer (the Company) and assigned National Corporate Governance Rating - 7+ “Developed Corporate Governance Practices” to the Company.
RID experts have actually confirmed the National Corporate Governance Rating (hereinafter - NCGR) of PJSC TransContainer at the same level - 8 “Best Practices of Corporate Governance” NCGR.
Nevertheless, in accordance with the current methodology of the NCGR, a prerequisite for the Company to obtain a high NCGR (from 7 ++ and above) is the inclusion of the Company's shares in the quotation list of the First Level in accordance with the Listing Rules of the PJSC Moscow Exchange.
Due to changes in the structure of the Company's share capital and a significant reduction in the number of shares in free float, the shares of PJSC TransContainer were transferred from the Quotation List of the First Level to the List of the Third Level.
Taking this into account the Company cannot be assigned NCGR above level 7+ “Developed Corporate Governance Practice”.
More detailed information on the corporate governance rating assigned to the Company can be found at: http://rid.ru/news/press-reliz-podtverzhdenie-nrku-pao-transkontejner.
In accordance with the scale of the National Corporate Governance Rating, a company with 7+ NCGR complies with the requirements of Russian law in the field of corporate governance, follows a significant number of recommendations of the Russian Corporate Governance Code. The company is characterized by fairly low risks of loss of ownership associated with the quality of corporate governance.
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