Rana Gruber seeks to maintain high standards for corporate governance and believes that good corporate governance is an important prerequisite for value creation.
The company’s shares were admitted for trading on Euronext Growth Oslo in February 2021 and uplisted to the main list at the Oslo Stock Exchange on 28 March 2022. Rana Gruber is therefore required to issue an annual corporate governance statement in accordance with section 3-3b of the Norwegian Accounting Act and the Norwegian Code of Practice for Corporate Governance; cf. section 7 on the continuing obligations of stock exchange listed companies.
The board of directors (“the board”) of Rana Gruber has prepared and approved a corporate governance policy that describes the company’s main principles for corporate governance and establishes a framework of guidelines and principles that regulate the relationship between the company’s shareholders, the board, the chief executive officer (“CEO”), and the other management positions of the company
Corporate governance at Rana Gruber shall be based on the following main principles:
- Rana Gruber shall at all times comply with all laws and regulations that apply to the company.
- The board shall ensure that the company has appropriate corporate governance.
- The company shall at all times seek to comply with the recommendations in the Norwegian Code of Practice for Corporate Governance. If, in the opinion of the board, there are special considerations which indicate that the company should deviate from any of these recommendations, this must be justified separately. In each annual report, the board will give an account of the company’s corporate governance.
- The company’s operations must be conducted in accordance with high ethical standards. The company shall take an active social responsibility.
- The company must create value for shareholders in a sustainable way. In its work, the board shall take into account economic, social, and environmental conditions.
- The board shall ensure that the company has clear goals and strategies for its operations.
- The company should have equity that is adapted to the company’s goals, strategy, and risk profile.
- The board shall ensure that the company has a clear and predictable dividend policy.
- The company shall avoid any unreasonable discrimination of shareholders.
- The company’s transactions with related parties shall be based on normal business terms and arm’s length principles.
- The company’s shares must be freely tradeable.
- The board of directors should facilitate the participation of as many shareholders as possible at the company’s general meeting, so that shareholders can exercise their rights.
- The board shall ensure that the company has good internal control and appropriate systems for risk management in relation to the scope and nature of the company’s activities.
Rana Gruber’s corporate governance principles have been developed in accordance with the Norwegian Accounting Act §3-3b and based on the current Norwegian Code of Practice (“the Code”) for Corporate Governance, most recently issued on 14 October 2021. The Code is available at www.nues.no.
A review of Rana Gruber’s compliance with the Code’s recommendations can be further explored in the company’s annual report
Download Rana Gruber’s Articles of association