The Swedish Code of Corporate Governance (“the Code”) sets a higher standard for good corporate governance than the minimum requirements of the Swedish Companies Act and shall be applied by all companies whose shares are admitted to trading on a regulated market in Sweden.
The Code thus complements the Swedish Companies Act by setting higher requirements in some areas, but at the same time enables Transtema to deviate from these if it is considered that this would lead to better corporate governance in the individual case (“comply or explain”). Such deviation, as well as reasons for the deviation and alternative solution, shall be reported annually in a corporate governance report. Transtema does not expect to report any deviation from the Code in its forthcoming corporate governance report. The Code can be found in its entirety at Swedish Corporate Governance Board’s website.