INNOVATION NETWORK

ACTIONS IN 2018

Within 2018 the following actions were realized:

  • Completion of procedures for the transfer of the State’s participations in the State-Owned Enterprises (SOEs) to HCAP on 01.01.2018*.
  • Amendment of the Statutes of the HCAP’s portfolio SOEs in order to comply with the existing legislative and regulatory framework.
  • Establishment of the Dividend and Investment Policy that has been incorporated the Internal Regulation of HCAP.
  • Completion of the evaluation of direct subsidiaries’ – HRADF and ETAD – Boards of Directors and appointment of new Boards of Directors.
  • Completion of the evaluation of the subsidiary’s “Hellenic Post S.A.” Board of Directors, selection and appointment of new management and Board of Directors members.
  • Completion of the evaluation of the subsidiary’s “Athens Urban Transport Organization S.A.” Board of Directors.
  • Filling, through a specified recruitment selection procedure, of vacant positions in HCAP’s subsidiaries’ Board of Directors.
  • Preparation and implementation of the organizational restructuring of the “Public Properties Company S.A.” (“ETAD”) that has included as-is capture and analysis of the current status, the design of the new organizational structure and development of recruiting process, job description development and mapping of new processes and systems and the staffing of the new organizational structure.
  • Completion of the HCAP’s and its subsidiaries’ Strategic Plan that includes the comprehensive strategic approach, the targets and priorities for a more effective management and exploitation of the assets of HCAP’s portfolio.
  • Submission by the non-listed subsidiaries – where HCAP is the sole or majority shareholder – management of the medium term business plans based on the HCAP’s Strategic Plan. The ultimate objective is the monitoring of the accomplishment of improved results according to predefined performance indicators (based on qualitative and quantitative criteria).
  • Establishment and approval of 2018 targets for the Board of Directors of the direct subsidiaries, HRADF and ETAD.
  • Completion and publication of the separated and consolidated annual financial statements of 2016 and 2017, an interim report of 2017 and quarterly reports on actions and company financial statements   till the 3rd quarter of 2018.
  • Implementation of the report framework process and the procedures for performance monitoring of the subsidiaries through periodical and structured reports.
  • Initiation of the design for the implementation of the provisions of the Coordination Mechanism which provides a structured framework for cooperation among the State, HCAP and SOEs.

In addition:

  • The evaluation of the rest of HCAP’s non-listed subsidiaries’ Boards of Directors is underway.
  • The operation of the Audit Committees of the subsidiaries’ Boards of Directors has been strengthened through the selection of Chairmen of the Audit Committees with experience in financial sector and audit control issues, after a request for interest for the staffing of the subsidiaries’ Committees. In 2018, the Chairmen of the Audit Committees of ETAD, AEDIK, ELTA, PPC and CMT have already been appointed.

* With the exemption of GAIAOSE that was transferred on 01.07.2018

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