Corporate governance describes the ways in which rights and responsibilities are distributed among the various corporate bodies per applicable laws, rules and processes.
Good corporate governance is an important objective for Boozt AB. The shareholders and financial markets should apprehend that decisions are made on rational grounds and with the objective of creating increased shareholder value. By providing information about conditions and decisions and evaluating risks in a transparent manner, increased trust in the business and its processes is achieved, which also enhances the company’s value.
Boozt is a Swedish public limited liability company. Prior to the listing on Nasdaq Stockholm, corporate governance in the Company was based on Swedish law and internal rules and instructions. Once the Company became been listed on Nasdaq Stockholm, the Company will also comply with Nasdaq Stockholm’s Rulebook for Issuers and apply the Swedish Corporate Governance Code (the “Code”). The Code applies to all Swedish companies with shares listed on a regulated market in Sweden and shall be fully applied in connection with the listing of a company. The Company is not obliged to comply with every rule in the Code, as the Code itself provides for the possibility to deviate from the rules, provided that any such deviations and the chosen alternative solutions are described and the reasons therefore are explained in the corporate governance report (according to the so-called “comply or explain principle”).
The Company will apply the Code from the time of the listing of the shares on Nasdaq Stockholm. Any deviation from the Code will be reported in the Company’s corporate governance report, which will be prepared for the first time for the 2017 financial year. However, in the first corporate governance report, the Company is not required to explain non-compliance with such rules that have not been relevant during the period covered by the corporate governance report. The Company will report a deviation from the Code with respect to its incentive programme due to the fact that the Code stipulates a vesting period of at least three years.