As a basis for its conduct of corporate governance, the Company uses the national Norwegian code of practice for corporate governance, as prepared by a working group consisting of representatives of the major organizations involved, owners, issuers and the stock exchange.
Corporate governance in Sevan Marine
As a listed company on the Oslo Stock Exchange (Oslo Børs), the Company aims at conducting its business in accordance with the Norwegian Code of Practice for Corporate Governance of 23 October 2012 (the “Code of Practice”).
The Company shall be operated on the basis of principles which seek to ensure openness, integrity and equal treatment of its shareholders. By practicing good corporate governance, the Company aims at securing appropriate division of roles between shareholders, the Board of Directors and the Senior Management, thereby contributing to reduced business risk and better shareholder value over time. The Board of Directors and the Senior Management annually evaluate the principles on corporate governance and how they are implemented
in the Group.
The Company is committed to high ethical standards in its business dealings to ensure that the integrity of its employees, the organization and the Sevan brand is maintained. Corporate social responsibility for the Company is an extension of the way the Company conducts its business and is described in the Sevan Marine Code of Conduct.
The Company’s compliance with the Norwegian Code of Practice can be described as follows:
- Equity and Dividend
- Equal Treatment of Shareholders and Transactions with Related Parties
- Free Negotiable Shares
- General Meetings
- Nomination Committee
- The Work of the Board of Directors
- Remuneration Committee
- Risk Management and Internal Control
- Remuneration of the Board of Directors
- Remuneration of Senior Management
- Information and Communication