29 July 2013

REN renews "AAA" Corporate Governance rating

REN is among the companies that best comply with corporate governance recommendations, according to a study conducted by the Portuguese Catholic University, commissioned by Associação de Empresas Eminentes de Valores Cotados no Mercado - AEM [Portuguese Market-Listed Securities Issuers’ Association].

REN scored 9927, which gives an AAA rating.

According to Rui Cartaxo, “this classification is reward for REN’s work in the field of corporate governance. The fact that we have achieved this result for the second consecutive year makes us especially content.”

The study examined the level of compliance of 43 listed companies with corporate governance recommendations. The average score of the companies analysed was 9224 points, 9452 points when only the PSI-20 companies are considered.

The assessment of compliance resulted in the award of a rating to all listed companies, based on a scale from 5,000 to 10,000 points corresponding to eight rating categories, ranging from D (minimum rating) to AAA (maximum rating).

The AEM/Portuguese Catholic University study was based on the information publicly disclosed in the companies' annual corporate governance reports. There was no direct or indirect contact with the companies. This study is contained in the third 'Report on the Degree of Implementation of Corporate Governance Recommendations in Portugal and Calculation of the Corporate Governance Score and Rating, Catholic University, Lisbon/AEM”.


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