The report from the board is based on the requirements covered in the Norwegian Code of Practice for Corporate Governance (“the code”), the Public Limited Companies Act and the Norwegian Accounting Act and published as part of the company’s annual report.

In addition to provisions and guidance that in part elaborate on company, accounting, stock exchange and securities legislations, as well as the Stock Exchange Rules (dated 1 October 2014), the code also covers areas not addressed by legislation. Build on a “comply or explain” principle, the code requires the company to justify deviations from its 15 provisions and to describe alternative solutions where and if applicable.

The report from the board is based on the requirements covered in the Norwegian Code of Practice for Corporate Governance (“the code”), the Public Limited Companies Act and the Norwegian Accounting Act and published as part of the company’s annual report.

In addition to provisions and guidance that in part elaborate on company, accounting, stock exchange and securities legislations, as well as the Stock Exchange Rules (dated 1 October 2014), the code also covers areas not addressed by legislation. Build on a “comply or explain” principle, the code requires the company to justify deviations from its 15 provisions and to describe alternative solutions where and if applicable.