Alony hetz Properties and Investments Ltd.
(hereinafter: "The Company")
1. Purposes of the ethical code
The Company is committed to fair, moral and appropriate business behavior; its employees are
obliged to act in accordance with ethical and moral standards and principles, amongst themselves as
well as with all 3rd parties, including The Company's suppliers and other debtors. In accordance with
this, an Ethical code has been drawn up, composed of a general code of conduct to assure that the
employees and management of The Company will adhere to these criteria. It is understood that the
ethical code can’t, and doesn’t attempt to encompass all obligatory conduct; having said this, the
values and principles included will be able to guide the decision making process even in situations
which are not explicitly dealt with.
2. Adherence to the law, company practice and enforcement policy of the company
The company emphasizes that the Ethical Code isn’t meant to replace any law, statute or professional
guidelines applying to The Company and/or its employees. Adherence to the Ethical Code is an
integral part of the Ethical Code. The same applies to Company policy whose existence is an integral part of the Ethical Code.
3. Conflict of interest
The Company employees are required to act and reach decisions having only the interests of The
Company in mind. In accordance with this, every employee should refrain from acting in a way that
could be seen as a conflict of interest between his position in The Company and his /his relatives
personal affairs and/or other position. An employee must immediately disclose to his manager all
information pertaining to the possible conflict of interest. An employee who must reach a decision
regarding a matter that he/his relatives will benefit from must pass this decision to his manager.
An employee should also refrain from making personal business connections with sources which are
connected to The Company and his position in The Company. It should be clarified that the prohibition
of a conflict of interest applies not only to concrete situations, but also to situations where there might
be a concern of conflict of interest, meaning situations which will not allow the employee to reach
decisions having only the company's best interest in mind.
4. Conducting business with integrity, fairness, credibility and respect for all people
The Company employees are obliged:
- To respect all people without prejudice; to respect all clients, partners, suppliers, competitors and
amongst themselves.
- To avoid fraud and deception, to conduct relationships based on mutual trust between themselves
and others.
- To sustain The Company's contractual and business obligations, and fulfill all undertakings made
during the course of business.
- To refrain from breaching competitors property rights, and the use of illegal conduct in order to harm
competition.
5. Personal liability, initiative and involvement, and cooperation in order to achieve the company's business goals.
The Company strives to attain, in full partnership with its employees The Company's goals and
success. In accordance with this, The Company strives that all its employees will truly identify itself
with The Company, and promote this feeling amongst all its employees. All employees must act with
integrity and fairness towards The Company and take personal responsibility and initiative to advance
The Company. Each and every employee should adhere to truthful and transparent reporting within the
company and outside it.
6. Business opportunity exploitation and competition with The Company
All employees shall refrain from acting in a way which can be conceived as business opportunity
exploitation and/or any act which can be seen as company competition. Information brought to the
attention of an employee during the course of business shall only be used for the purposes that the
information was passed to him, and not in order to receive personal/3rd party benefits. An employee
must always have The Company's best interests in mind when dealing with 3rd parties and no
intentions to exploit information, contacts or any other business opportunity for his personal gain.
An employee must also refrain from using The Company's reputation or assets (including trade
secrets) for his personal gain.
7. Gifts and Benefits
In order to avoid situations where external considerations guide an employee, employees must not
accept money, equivalent to money, services or any other benefits from organizations who do
business with The Company/could potentially do business with The Company; this excludes
situations which are expressly allowed under The Company regulations.
8. Maintaining confidentiality
All Employees are obliged to maintain confidentiality regarding all information brought to their attention
throughout the course of their employment, regardless of the source, including information regarding
suppliers, co workers etc. Employees are only allowed to make use of information for the purposes to
which it was brought to their attention and to the extent necessary. The abovementioned doesn’t apply
to situations where the disclosure is permitted by the relevant authorities, mandatory by law, or the
information is universally known. This guideline must be upheld even after termination of employment.
9. Protection of The Company assets
The use of The Company assets, both tangible (such as phones and office supplies) and intangible
(such as intellectual property) should be used with efficiency and for suitable business purposes only.
It should be remembered that the use of assets in an inefficient manner or for personal purposes will have consequences on the company's profit.
10. Consulting relevant company body
In case of doubt regarding how to act or which decision to reach, an employee should consult the
relevant Company body, be it his superior or other professional body.
11. Delegation of authority
Delegation of authority shall be done in a clear and proper manner, in accordance with Company
policy. It is the delegator's responsibility to use good judgment with regards to the person delegated to
and the scope of delegation. Delegation of authority doesn’t eliminate the delegator's responsibility,
and he should supervise the person delegated to on a regular basis.
12. Use of authority
An employee shall not create any liabilities in name of The Company unless expressly authorized by The Company.
13. Conduct at the workplace
Proper conduct and representation of The Company should be upheld at all times. All employees
should take care of their appearance according to their position in The Company. A nice, calm and
respectful atmosphere should be maintained at all times. Company employees will act in a polite and
respectful manner towards their co-workers and all others. Verbal/physical violence and any other form
of threat or harassment is strictly prohibited. All employees will execute their work in a professional,
efficient and reliable manner, in collaboration with their co-workers and other Company units.
14. Involvement in community
The Company places a high emphasis on community involvement and donates to various causes on
a regular basis. The Company encourages employees to volunteer and give back to the community,
which is in line with The Company's commitment to social responsibility.
15. Transparency and reliability regarding company publications
The Company pays high regard to transparency and reliability regarding its publications and reports
(including financial statements) to the public and the authorities.
16. Corporate governance
Corporate governance principles refer to the management's work in relation to the board, the audit
committee, the shareholders and the relevant stakeholders, by agreeing to an audit mechanism,
supervision, transparency and reporting.
* The Company has internal and external auditing, who supervise and verify that The Company is
meeting all its legal requirements and regulations.
* The Company holds Board meetings and committee meetings as required, and pays attention to all
the approvals from the relevant bodies.
17. Implementation of the ethical code
All Company employees are obliged to uphold the ethical code. In addition, an employee who has
reservations regarding another co-workers behavior, be it breach of law, guidelines by certified bodies
and/or the ethical code, is obliged to immediately report this to The Company manager or to the body in
charge of the ethical code. Breach of the ethical code may have serious repercussions, including
dismissal or in serious cases even criminal charges. The Company operates on a regular basis to
implement this ethical code amongst both its current and new employees, by setting examples
through Company management and drawing conclusions from previous events.
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