The Company has established corporate governance guidelines based on the Norwegian Corporate Governance Code dated 23 October 2012 and rectified on 21 December 2012 (the “Corporate Governance Code”).
Viktor E. Jakobsen, who is a Board member of EAM Solar Park Management AS, is a member of the Board of Directors. However, this is not in accordance with the recommendation of the Corporate Governance Code that the Board of Directors should not include executive personnel. The reason for this deviation is that the Company believes that Jakobsen’s position on the Board is important as a means of ensuring efficient communication with EAM Solar Park Management AS. Furthermore, Jakobsen is one of the co-founders of the Company and has extensive experience from the solar PV industry therefore it is considered important that he is a member of the Board.
The Company complies with the Corporate Governance Code in all other matters and areas.
The Company will report on Corporate Governance in accordance with Section 7 of the Oslo Børs Continuing Obligations and the Corporate Governance Code.