Code of Conduct

General Principles
Employee Relations
Business Ethics
Environment

General Principles

It is our key responsibility to develop and maintain an economically sound and prosperous business. CIOTEK LTD as a business with a long history and future assumes its responsibilities. These include our responsibilities toward the countries, communities and environments in which we operate, toward our employees and business partners and toward society in general.

Therefore we have defined some key underpinnings for our performance:

• We comply with legal requirements that apply in the countries where we do business.
• We respect the United Nations Universal Declaration of Human Rights and recognise our responsibility to observe those rights that apply to our performance toward our employees and the communities we work and live in.
• We are committed to do our business with a high standard of integrity and ethics.
• We are open-minded in dialogue with those who are affected by our operations. We respond to inquiries from external parties and communicate with affected parties in a timely and effective manner.

Within the sphere of our influence we will endeavour to ensure that our suppliers and subcontractors abide by the principles in our Code of Conduct.

Employee Relations

A strong and consistent relationship to all employees, built on mutual respect and dignity, is of vital concern to CIOTEK LTD. Employment conditions offered to the employees will meet the minimum requirements of national legislation and relevant ILO conventions.

• We do not use forced labour, slave labour or other forms of involuntary labour at our work sites. We do not allow any practice that would restrict free movement of employees.
• We do not employ any person below the age of 15 and where local standards are higher; no person under the legal minimum age will be employed.
• We provide equal opportunities to people without regard to race, colour, gender, nationality, religion, ethnic affiliation or other distinguishing characteristics. We do not allow discrimination or harassment.
• We recognise employees rights to form or join trade unions in accordance with each countrys laws and principles.

Business Ethics

Corruption, bribery and unfair anti-competitive actions distort markets and hamper economic, social and democratic development. CIOTEK LTD is committed to avoiding such practices.

• We shall not act contrary to applicable competition laws.
• We shall not offer or give any undue payment or other consideration to any person or entity for the purpose of inducing such person or entity to act contrary to prescribed duties, in order to obtain or retain business for CIOTEK LTD.
• We shall not solicit or accept any undue payment or other consideration that is given for the purpose of inducing us to act contrary to our prescribed duties.

Environment

Caring about the environment permeates all of our work. Compliance with relevant legal and other environmental requirements, especially from our clients, provides the foundation for our environmental ambition. We are committed to preventing and continually minimising adverse environmental impact and to conserving resources.

• We think ahead to determine how our work will affect the environment and vase our decisions on available relevant facts.
• We avoid materials and methods with environmental risks when there are suitable alternatives available. We strive to recommend that clients use environmentally better alternatives whenever the circumstances permit.
• We do not engage in activities that have unacceptable environmental and social risks. We aim to identify such risks as early as possible to facilitate timely and adequate actions and decisions.