Corporate Governance of the group

Corporate Governance refers to the framework of rules and structure established for governing and managing operations in a limited liability company in an efficient and controlled manner. Ultimately, corporate governance is intended to satisfy the shareholders’ requirements for return on investment and all stake-holders’ needs for information on the company and its development.

Corporate Governance in listed Swedish companies is regulated by a combination of written rules and standards. This Corporate Governance Report has been prepared in accordance with the provisions of the Swedish Code of Corporate Governance, as well as Chapter 6, Sections 6-9 of the Annual Accounts Act and Chapter 9, Section 31 of the Swedish Companies Act.

Management and control of the Hemtex Group is distributed between the shareholders at the Annual General Meeting, the Board of Directors and the President in accordance with the Swedish Company’s Act and the company’s Articles of Association.

The Swedish Code of Corporate Governance states that companies that follow the Code but have chosen to deviate from the Code in certain instances must explain the reasons. Hemtex complies with Swedish Code of Corporate Governance.

The Board of Directors is responsible for ensuring that the Code is applied by the Board as well as executive management and the company in General. The Board conducts an annual evaluation to ensure compliance.