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Code of business ethics

SUMMARY OF THE CODE OF BUSINESS ETHICS

Full text of Code of Business Ethics of AS Merko Ehitus

Conflicts of interest

Merko employees, directors and board members should avoid situations where a conflict may arise between their own personal and/or financial interests and the interests of Merko. Persons who have confidential information should respect the guidelines of Merko.

Confidentiality Obligation

Company secrets and other protected information about Merko, the company’s activities, technology, patents, financial situation, personnel, customers, suppliers or partners are bound by duty of confidentiality.

Insider trading

As a listed company Merko is formally bound by the rules of NASDAQ Tallinn (Tallinn stock exchange) regarding share price sensitive information.

Merko has established mandatory rules concerning insider trading.

Bribery and corruption

Merko employees, directors and board members shall never offer or receive payment or remuneration, other than standard hospitality, which could reasonably be assumed not to be intended or likely to influence business related decisions.

Hospitality and Gifts

The purpose of business entertainment and gifts in a commercial setting is to create good will and sound working relationships, not to gain unfair advantage with clients or vendors. No gift or entertainment should ever be offered, given, provided or accepted by any Merko employee, director, board member, or members of their immediate family members sharing the same household unless it:

  • is unsolicited;
  • is not a cash gift;
  • is consistent with customary business practices;
  • is not excessive in value;
  • cannot be construed as a bribe or payoff;
  • is given or accepted without obligation;
  • is not intended to induce or reward improper performance of a function or activity or to obtain or retain business or an advantage in the conduct of business;
  • does not violate current laws or regulations.

Competition rules

Merko supports fair and open competition in all markets. Merko’s activities, employees, directors or board members shall under no circumstances violate any of the competition rules. For example illegal price fixing, illegal market sharing or other conduct that hampers, limits or distorts competition in contravention of the legislation regarding competition.

Equal treatment

Every Merko employee, director or board member must receive equal treatment at work regardless of gender, age or ethnic origin.  Equal treatment shall be involved also in selection, payment-terms and other relations with customers, sub-contractors, service providers and other groups that we co-operate with.

Protection and Proper Use of Merko Group Assets

Employees, directors and board members should endeavour to protect Merko’s assets and ensure their efficient use. Theft, carelessness, and waste have a direct impact on Merko’s profitability.