REN is among the companies that best comply with corporate governance recommendations, according to a study conducted by Universidade Católica Portuguesa, commissioned by Associação de Empresas Eminentes de Valores Cotados no Mercado - AEM [Portuguese Market-Listed Securities Issuers’ Association].
The study examined the level of compliance of 41 listed companies with corporate governance recommendations. The average score of the companies analysed was 9124 points, and 9393 points if only the PSI-20 companies are considered.
These compliance figures resulted in a rating for all listed companies on a scale of 5,000 to 10,000 points in eight rating categories, ranging from D (minimum) to AAA (maximum).
The AEM/Universidade Católica Portuguesa study was based on the information published in the companies' annual corporate governance reports. There was no direct or indirect contact with the companies themselves. This study is contained in the third 'Report on the Degree of Compliance with Corporate Governance Recommendations in Portugal and Calculation of their Corporate Governance Score and Rating, Universidade Católica, Lisbon/AEM”.