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Transparency is a core element of good corporate governance. It is necessary especially in cases where transactions concluded by the Executive Board may lead to conflicts of interest. Therefore, we would like to underscore the following aspects of RWE’s corporate governance practice:
- In fiscal 2008, material transactions concluded between RWE or a Group company and an Executive Board member or related party were in line with prevailing market standards. No contracts were concluded between RWE AG and members of the Supervisory Board. Executive Board and Supervisory Board members had no conflicts of interest.
- Executive Board members again purchased RWE common shares. No sales occurred in the year under review. We distributed information on share transactions by Executive Board members in accordance with Sec. 15a of the German Stock Corporation Act (WpHG) throughout Europe in compliance with statutory regulations. The following is a breakdown of the transactions:
|
Transaction date |
Name |
Reason for mandatory disclosure/ function |
Type of financial instrument |
Transaction (purchase/ sale) |
Price per share/€ |
Number of shares |
Total volume € |
|
Jan 21, 2008 |
Dr. Jürgen Großmann |
Exec. Board Member |
RWE common share |
Purchase |
86.8000 |
20,000 |
1,736,000.00 |
|
Feb 25, 2008 |
Dr. Jürgen Großmann |
Exec. Board Member |
RWE common share |
Purchase |
80.9200 |
25,000 |
2,023,000.00 |
|
Mar 14, 2008 |
Dr. Rolf Pohlig |
Exec. Board Member |
RWE common share |
Purchase |
79.3834 |
1,312 |
104,151.02 |
|
Mar 14, 2008 |
Dr. Ulrich Jobs |
Exec. Board Member |
RWE common share |
Purchase |
79.3834 |
1,312 |
104,151.02 |
|
Mar 14, 2008 |
Alwin Fitting |
Exec. Board Member |
RWE common share |
Purchase |
79.3834 |
1,312 |
104,151.02 |
|
Mar 14, 2008 |
Berthold Bonekamp |
Exec. Board Member |
RWE common share |
Purchase |
79.3834 |
1,312 |
104,151.02 |
|
Apr 22, 2008 |
Dr. Jürgen Großmann |
Exec. Board Member |
RWE common share |
Purchase |
73.6500 |
5,000 |
368,250.00 |
|
Sep 5, 2008 |
Dr. Jürgen Großmann |
Exec. Board Member |
RWE common share |
Purchase |
68.5800 |
35,000 |
2,400,300.00 |
|
Sep 5, 2008 |
Dr. Jürgen Großmann |
Exec. Board Member |
RWE common share |
Purchase |
68.7600 |
40,000 |
2,750,400.00 |
|
Oct 14, 2008 |
Dr. Ulrich Jobs |
Exec. Board Member |
RWE common share |
Purchase |
62.6100 |
1,000 |
62,610.00 |
|
Oct 15, 2008 |
Dr. Leonhard Birnbaum |
Exec. Board Member |
RWE common share |
Purchase |
59.0000 |
1,000 |
59,000.00 |
|
Oct 27, 2008 |
Dr. Leonhard Birnbaum |
Exec. Board Member |
RWE common share |
Purchase |
54.2000 |
1,000 |
54,200.00 |
- The number of shares in the company and related financial instruments directly or indirectly held by members of the Executive and Supervisory Boards is below 1 % of the shares issued by RWE.
We publish further information on our corporate governance practices on the Web at www.rwe.com/investorrelations. It provides access to our articles of association, the bylaws of the Supervisory Board and the Executive Board, all statements of compliance and corporate governance reports and all the reports on RWE’s code of conduct.
