In achieving corporate aims and increasing the long-term value of the company, entrepreneurial thinking and trading in accordance with Corporate Governance Rules are of utmost importance to IBS AG. The following text offers more information on the origin and stipulation of the Corporate Governance Rules.

Corporate Governance comprises the rules pertaining to the code of conduct according to which companies should be run and these are designed to enable open co-operation between the Board of Directors, the Supervisory Board and the investors.

In 2001 the German Federal Government commissioned a governmental body with the development of a German Corporate Governance codex. This codex was completed at the beginning of 2002 and contains three types of standards:

• Regulations describing the applicable and valid German laws
• Recommendations
• Ideas

Legal regulations are to be strictly adhered to by German companies. With regard to the recommendations, the German law pertaining to shares states in § 161 that companies listed on the stock exchange are required to make an annual declaration in which each individual company discloses to which extent the German Corporate Governance Standard has been adhered to and indicates where deviations have occurred. It is possible for companies to deviate from ideas without having to fulfill any declaration obligations.

In August 2002 the IBS AG Board of Directors and the Supervisory Board moved away from Corporate Governance Fundamentals in the form in which they were valid at that time, in order to increase shareholder, customer, employee and other peer group confidence in the IBS AG management. A consequent announcement was made on 30th December 2002. 

The Fundamentals of Corporate Governance - as of May 2010 (PDF)

On 4th July 2003, the amendments made to the Corporate Governance codex decided by the Corporate Governance Commission on 21st May 2003 came into effect. The amendments primarily related to the divulgence of payments to corporate bodies and also share options. Further changes became effective as of 2nd June 2005, 12th June 2006, 14th June 2007, 6th June 2008 and on 18th June 2009.

Numerous Corporate Governance codex ideas and rules, such as extensive clarity, open and timely shareholder communication and compliance with stock exchange regulations were already followed by IBS AG prior to this time.

Individual company deviations from the recommendations of the current German codex are documented and justified in the compliance declaration in accordance with § 161 of the law pertaining to shares.

The Fundamentals of Corporate Governance - IBS AG Discrepancies - December 2007(PDF)

The Fundamentals of Corporate Governance - IBS AG Discrepancies - December 2008(PDF)

The Fundamentals of Corporate Governance - IBS AG Discrepancies - December 2009(PDF)

The Fundamentals of Corporate Governance - IBS AG Discrepancies - December 2010(PDF)

The Fundamentals of Corporate Governance - IBS AG Discrepancies - December 2011(PDF)

 Höhr-Grenzhausen, 13th December 2011

IBS AG 

IBS AG Charter

The charter is a legally required document for the regulation of the fundamental corporate fiduciary relations of companies within Germany. The current version was last changed on 24th June 2011, within the scope decisions made during the Annual General Meeting.

IBS AG charter from 24th June 2011 (PDF)