Corporate Governance

We have a simple corporate structure with a core and 100% family capital, being, in conformity with the Entity Bylaws, its General Meeting of Shareholders the body responsible for the governance, management, and administration of the entity’s businesses and interests, in order to ensure that business objectives are accomplish and their purpose are met, we respect our social interest, which is understood as viability and the maximization of its long-term value, determining and reviewing its business and financial strategies and always trying to establish a reasonable balance between the chosen proposals and the risks assumed.

The governing body constitutes the sovereign authority of the family entity, without holding share ownership, which belongs to a sole shareholder. Our governance model has an advisory board made up of leading professionals in the business field and in economic-financial and legal matters that provides support in the analysis, execution and monitoring of investments, as well as strategic help in the development of entity. All of them have in common distinguished careers, experience in leading companies and organizations, and different professional profiles and backgrounds. Their participation in the entity is regulated in a family protocol that clearly defines its functions.

The entity is governed by the General Meeting of Shareholders and managed and represented by a Sole Administrator who assumes, on a non-delegable basis, the role of organization and strategic coordination, as well as establishing the culture, people, processes and technology that constitute the Risk Management Model of the entity.

This model, based on the Comprehensive Risk Management System, start out from the methodological standards and comprises a set of principles, procedures, controls and systems through which is define and monitored the level or profile risk that we are willing to assume and maintain, both for its types and it’s amount, as well as its level of tolerance, sets general limits in terms of profitability and risk for each project, as well as the manner in which it fits in the strategy to follow and determines the specific limits and guidelines in line with the characteristics of the different types of investment in order to optimize the balance sheet, ensure liquidity with minimum financial expense and transfer the level of risk associated with financial variables that we does not wish to assume to external entities specialising in the management of such risks.

“We maintain an adequate diversification of assets in different geographical areas and sectors, taking special care of liquidity risk”.
Inversiones Maslosa.

Our Model applies the following systematic processes:

• The ongoing identification of significant risks and threats, taking into account their possible impact on key management objectives and the accounts (including contingent liabilities and other off-balance sheet risks).
• The measurement and control following homogenous procedures and standards common about each activity areas and taking into account their combined effect on the Entity as a whole.
• The establishment of a structure of policies, guidelines, limits and indicators, as well as of the corresponding mechanisms for the approval and implementation thereof.
• The periodic monitoring and control of factors that might have a significant impact on the income statement in order to control the volatility of the annual result.
• The ongoing evaluation of the suitability and efficiency of applying the system and the best practices and recommendations on this matter for eventual inclusion thereof in the model.

Its development allows to identify the different risk types, financial and non-financial (operational, technological, social, environmental, political and reputational) which we could face, including among financial or economic risks, fiscal and contingent liabilities, formulate effective and efficient operations and ensure prudent business conduct.