In accordance with the Code of business ethics and the Conflict of interest management Policy of KEGOC JSC, one of the necessary conditions for an employee to effectively perform their duties is the absence of any conflict between their personal interests and those of the Company. In cases where such conflicts exist, they must be disclosed and resolved in a timely manner. All employees and officers of KEGOC JSC must conduct themselves in a way that avoids any situation where a conflict of interest may arise either for themselves (or related parties) or for others.
In 2024, no cases of conflict of interest by officers or employees of the Company were recorded:
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no situations arose in which personal interest could have affected the proper fulfillment of their duties;
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no situations occurred where conflicts of interest affected or could potentially affect impartial decision-making;
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officials with an interest did not participate in the discussion and decision-making process on such matters.
As a preventive measure, under the Conflict of interest management policy for officers and employees of KEGOC JSC, a conflict of interest disclosure declaration form is in effect. In the discussion and voting on interested party transactions within the competence of the Board of Directors in 2024, only independent directors participated, as recorded in the meeting minutes of the Board of Directors. In the reporting year, the Board of Directors of KEGOC JSC made decisions on the conclusion of interested party transactions by signing three contracts for the provision of operational and maintenance services for equipment between KEGOC JSC branches and Batys Transit JSC, totaling KZT 438 million.
In 2024, two major transactions were concluded by KEGOC JSC with:
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the European Bank for Reconstruction and Development for a total amount of KZT 141 billion;
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a consortium consisting of EIS Corporation LLP, Building and construction LLP, and Scientific-Engineering Center Energy LLP for a total amount of KZT 138 billion.
