Permanent changes in the real estate and financial markets require continuous monitoring of the market, operational, financial and regulatory risks in order to safeguard the results and financial situation of Intervest.

Risk management

Intervest’s supervisory board keeps a close watch on the risk factors to which Intervest is exposed.

The main risks facing Intervest are described in the chapter of the Annual Report entitled “Most important risk factors and internal control and risk management systems”. First, the risk is identified, followed by the possible influence on Intervest’s activity that may result if the risk materialises, and then the measures that Intervest considers in order to limit and manage the possible negative impact of the risk.

 

 

Corporate governance charter

Corporate governance is an important instrument for the ongoing improvement of the regulated real estate company’s management and for safeguarding shareholders’ interests.

In accordance with Article 3:6 §2 of the Belgian Companies and Associations Code and the Royal Decree of 12 May 2019 designating the corporate governance code to be complied with by listed companies, Intervest must comply with the Belgian Corporate Governance Code 2020, taking into account the particulars associated with the RREC legislation.

The terms of the Belgian Corporate Governance Code 2020 may only be deviated from when specific circumstances require it. In this case, the deviation is explained in accordance with the “apply or explain” principle.

 

 

Dealing Code

On 3 July 2016, Regulation EU No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (hereinafter referred to as the “Market Abuse Regulation” or abbreviated as “MAR”) entered into force. Pursuant to the Law of 27 June 2016, which applies, among other things, to the partial implementation of the Market Abuse Regulation, the Law of 2 August 2002 on the supervision of the financial sector and financial services was also amended. The FSMA publishes the reports on its website. Intervest has drawn up a policy in this regard.

Transactions must be reported using the online application created by the FSMA.

 

 

Code of conduct

Intervest has drawn up a code of conduct that is applicable to all employees, as well as the members of the management board, the supervisory board, the audit and risk committee, the appointment and remuneration committee and the investment committee..

The code of conduct also applies to temporary employees and persons working on a contract basis for Intervest.

 

 

Procedure for reporting irregularities

Intervest has introduced a procedure for reporting irregularities. This procedure protects employees and business partners who report misconduct within the company.

 

 

Conflicts of interest

As far as the prevention of conflicts of interest is concerned, the company is subject to statutory rules (Articles 7:115, 7:116 and 7:117 of the Belgian Companies and Associations Code and Articles 36 to 38 of the RREC Act), as well as to the rules set out in its articles of association and its Corporate Governance Charter.

In this regard, Article 21 of the articles of association of the company states the following: “The members of the supervisory board, the members of the management board, the persons charged with day-to-day management and the authorised agents of the company shall respect the rules relating to conflicts of interests, as provided for by articles 36, 37 and 38 of the RREC Act and by the Belgian Companies and Associations Code, as they may be amended.”