Corporate Governance Report 2011/12 - Sonova

46
advancing corporate governance
INFORMATION POLICY
As a publicly listed company, the Sonova Group pursues an
open and active information policy. A governing principle of
this policy is to treat all stakeholders alike and to inform
them at the same time. It is our aim to inform our shareholders,
employees, and business partners in the most direct,
open, and transparent way possible about our strategy, our
global activities, and the current state of the company.
All publications are made available to all shareholders, the
media and the stock exchange at the same time. All shareholders
entered in the share register automatically receive
the Shareholders’ letter, an invitation to the General Shareholders’
Meeting and, on request, a copy of the Annual
Report of Sonova Holding AG. Sonova utilizes a news service
that delivers press releases to interested stakeholders.
The website of the Sonova Group www.sonova.com contains
information on the company results, the financial calendar
as well as current investor presentations. The Investor
Relations function includes presentations of annual and
interim results, presentations on the latest product launches,
meetings with investors and analysts in major financial
centers, hosting tours to the Production site at Stäfa (Switzerland),
and presentations at broker-sponsored industry
conferences.
SONOVA ANNUAL REPORT 2011 / 12
INSIDER TRADING POLICY
The Board of Directors has issued a policy on how to deter
corporate insiders from making use of confidential
infor mation. The Securities Trading Policy was revised and
implemented in the year under review, including a training
program for employees. The policy provides for blocking
periods to prevent insiders from trading in securities of
Sonova Holding AG during sensitive time periods. The
general blocking periods start one month prior to the end of
any half-year or full year reporting period and end two full
trading days following the respective release of the results.
Special blocking periods are implemented when necessary
or appropriate. The implementation of blocking periods
is within the responsibility of the CFO, who coordinates
with the CEO. In addition to blocking periods, the guidelines
also provide for pre-trading clearance for members of the
Board of Directors, the Management Board and for selected
employees.