Governance

Vastned commits to striving for the highest standards regarding compliance with the provisions in the Dutch Corporate Governance Code and the principles and best-practice provisions contained within the Code.

Governance

Vastned commits to striving for the highest standards regarding compliance with the provisions in the Dutch Corporate Governance Code and the principles and best-practice provisions contained within the Code.

Good corporate governance is a prerequisite to function well as a listed company.

Vastned has a two-tier governance model consisting of a Supervisory Board and an Executive Board. Integrity, transparency, and accountability are key elements of our corporate governance and business operations. These key elements ensure that we pursue effective risk management, comply with legislation and regulations, and provide transparency to stakeholders.

Executive board

The Executive Board is charged with managing the company, which means, inter alia, that it is responsible for determining the company’s mission, vision, strategy, policy, and objectives and for achieving those objectives.

Executive committee

The Executive Committee is responsible for the day-to-day management of Vastned including its subsidiaries except for Vastned Belgium N.V.

Supervisory Board

The Supervisory Board supervises the policy of the Executive Board and the general course of events in the company and the business connected with it and assists the Executive Board by providing advice.

Regulations and compliance

Corporate Governance

Vastned attaches significant value to good corporate governance and is always striving for compliance with the provisions in the Dutch Corporate Governance Code (‘Code’) and the principles and best-practice provisions contained in it.

Vastned’s Compliance Statement and annual report elaborate in more detail on our compliance with the Code and its best-practice principles.

Compliance Policies

Vastned’s key compliance documents are:

Articles of Association
Code of Conduct
Regulation on Incidents
Whistleblower’s Code
Private Investment Transactions and Prevention of Insider Trading Policy
Policy on Bilateral Contacts with Shareholders
Diversity & Inclusion Policy
Tax Policy
Conflict of Interest Policy
Customer Due Diligence Policy
ESG Policy
Remuneration Policy for the Executive Board
Remuneration Policy for the Supervisory Board

Auditors

Internal audit

BDO provides services as Vastned’s internal audit department.

BDO provides independent assurance to the Executive Board, the Supervisory Board and the Audit and Compliance Committee on the quality and effectiveness of Vastned’s internal control, risk management, governance and implemented systems and processes.

BDO supports Vastned to accomplish its mission and strategic business objectives through a systematic, documented risk based audit approach to examine, evaluate and improve the effectiveness of Vastned’s governance, control, and risk management processes.

External audit

The external auditor performs the audit on the consolidated financial statements of Vastned and the statutory financial statements of subsidiaries. In this role, the external auditor attends meetings of the Audit and Compliance Committee and is present during the annual General Meeting of Shareholders (AGM).

As part of the audit engagement, the external auditor reports to the Executive Board, and the Audit and Compliance Committee of the Supervisory Board, in which (potential) improvements in the adequacy and effectiveness of the governance, risk and control framework are being recommended.

The annual General Meeting held on 25 June 2020, re-appointed Ernst & Young Accountants LLP as the external auditor for Vastned for the audit of the annual accounts for the financial years 2021-2024.

The Supervisory Board will make recommendations to the AGM as to the appointment of the external auditor, based on an assessment made by the Audit and Compliance Committee.