As for the company’s governance, being consisted of three committees including audit, salary and bonus, nomination as well, according to article set out in Corporate Law, THE BOARD OF DIRECTORS has been operating with nine members, of them, three are independent and six being ordinary. The list of members is as follows:

                     • BD’s Director Bayarbaatar. Ts

                    • BD’s Independent Member Bekhbat. G

                    • BD’s Independent Member Balgan. L

                    • BD’s Independent Member Erdenebat. N

                    • BD’s Member Dolgorsuren. E

                    • BD’s Member Erdenebileg. B

                    • BD’s Member Khangai. Ts

                    • BD’s Member Enkhmend. T

                    • BD’s Member Nergui. S

                    • BD’s Secretary Bayarmanla. M

         For settlement of matters regarding to issues set out in Corporate Law of Mongolia and Corporate Charter including announcing the meeting of shareholder, discussing and approving the company’s performance, and statement of financial plan, determining the market price of property as well as giving an assignment to the executive management, we hold a regular and non- regular meeting in monthly basis, submitting meeting minutes along with decision made to Regulatory Commission of Finance, and the Stock Exchange.

          According to joint stock company’s exemplary regulations approved by Resolution 74 of Regulatory Commission of Finance issued in 2012, as governance of “DSEDN” JSC, shareholders of “DSEDN” JSC has adopted and approved the Corporate Charter on 27 April 2012.

            The shareholders of “DSEDN” JSC are fully involved in the decision-making process specified in the Company Law, and the charter of “DSEDN” JSC. Furthermore, with regular meeting of shareholders, by adopting and approving “Exemplary rules for the operation of the BD”, “Procedures of the Audit Committee”, “Procedures of the Nomination Committee”, “Procedures of the Salary Bonus Committee”, and “Procedures of the Secretary of the BD”, the shareholders ensure its implementation.