Information disclosed in a consistent, transparent and accurate way is part of the culture of Klabin. Therefore, committed to transparency of information for the market and equal treatment of shareholders, Klabin has been listed as Level 2 of Corporate Governance since 2014 on the Sao Paulo Stock Exchange (BM&F/Bovespa); this segment reports the activities of companies which have adopted the best differentiating practices of governance.
The policy of share dispersion guarantees holders of preferred shares the right to tag-along and to receive a value equivalent to 100% of a common share belonging to the controlling block.
The Company has policies for the disclosure of relevant facts and share trading, applicable to all the shareholders and professionals with access to information which may be considered privileged. They establish communication processes with the market and restrictions on trading Klabin stock. Ample disclosure of information is a part of company culture.
The company presents consolidated financial statements in compliance with the international standards of financial reporting (IFRS – International Financial Reporting Standards), issued by the International Accounting Standards Board (IASB).
In August 2011 the Company adhered to the “ABRASCA Code of Self-Regulation and Good Practices of Public Companies” which establishes principles, rules and recommendations in order to contribute to the improvement of corporate governance practices and to promote investor confidence, facilitate access to capital markets and reduce the cost of capital, promoting sustainability and durability of Brazilian companies, as well as the creation of value in the long-term.
Every two months, the Board meets to evaluate results and discuss targets and strategies. The Company’s performance is published via quarterly reports, annual financial statements and annual sustainability reports.
The main channel for shareholders to make recommendations to the Board of Directors is through the General Meeting. Another channel for direct communication by the shareholders is through the area of Investor Relations, which can be contacted by phone, mail or e-mail.
All stakeholders – including customers, employees, suppliers and representatives of society – can use this channel, available on the company’s website, to make recommendations to the management.