BMW 2002 Annual Report Download - page 36
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35
The Board of Management and the Supervisory
Board of Bayerische Motoren Werke Aktiengesell-
schaft made the following declaration on 3 Decem-
ber 2002 in accordance with §161 of the German
Stock Corporation Act (AktG) with regard to the
rec-
ommendations of the German Corporate Governance
Code Commission: The Board of Management and
the Supervisory Board of Bayerische Motoren
Werke Aktiengesellschaft hereby declare that the
recommendation of the German Corporate Gover-
nance Code Commission, published by the Federal
Ministry of Justice in the official section of the elec-
tronic Federal Gazette,
have been complied with,
with the following divergence
to section 6.6 of the
German Corporate Governance Code:
The purchase or sale of shares in BMW AG or
derivative instruments relating to
BMW AG
by the
members of the Board of Management and the
Supervisory Board are published in accordance
with §15 a of the German Securities Trading Act,
but are not additionally disclosed in the notes to the
Group financial statements.
Reason for the divergence:
We consider that the interests of our shareholders
and other stakeholders are assured by publishing
the relevant details on a timely and up-to-date basis
in the BMW Group homepage on the Internet in
accordance with §15 a of the German Securities
Trading Act. Each notification is reported on the in-
ternet site for at least 30 days.
The purchase or sale of shares in BMW AG by
the members of the Board of Management and the
Supervisory Board are only relevant for shareholders
and other stakeholders at the date of the transac-
tions. A list showing transactions, which are several
months old, does not provide any additional infor-
mational value and does not, in our opinion, achieve
any purpose.
Munich, December 2002
Bayerische Motoren Werke
Aktiengesellschaft
The Supervisory Board The Board of Management
Declaration of compliance with the
German Corporate Governance Code