At the Annual General Meeting held on 25 April 2017, it was resolved to establish a Nomination Committee to be applied after the Company’s shares have been listed on Nasdaq First North and to adopt principles for the Nomination Committee.
According to the principles the Nomination Committee, as a general rule, shall comprise of the Chairman of the Board of Directors and three members representing the three largest shareholders in terms of votes in the Company.
Should one of these shareholders chose to refrain from its right to appoint a member, the next shareholder in size order shall be offered to appoint a member of the Nomination Committee and so on. The Nomination Committee shall appoint a Chairman among its members. The Chairman of the Board of Directors shall not be the Chairman of the Nomination Committee. The composition of the Nomination Committee and the appointing shareholder shall be publicly announced no later than six months prior to the Annual General Meeting. Should a representative resign or leave before the assignment is completed, and the Nomination Committee consider there is a need to replace this member, the shareholder that appointed the departing member shall appoint a new member, or, if this shareholder no longer is one of the three largest shareholders, the shareholder belonging to this group should appoint the new member. Should a shareholder that has appointed a member of the Nomination Committee substantially decrease its ownership in the Company, and the Nomination Committee deems it is not inappropriate due to need of continuity before a soon upcoming general meeting, the member should leave the Nomination Committee and the next shareholder in size order shall be offered to appoint a member of the Nomination Committee.
The mandate period of the appointed Nomination Committee applies until the appointment of a new Nomination Committee. The Nomination Committee shall fulfil the composition requirements set out in the Code.