Corporate governance

Corporate governance refers to the decision-making systems through which the owners directly or indirectly control the company.

Corporate governance is about ensuring that CTEK is managed in a sustainable, responsible and efficient manner. Governance supports the Group’s long-term strategies and objectives and forms the foundation for continued profitable and sustainable growth. The overall aim is to increase the value for shareholders, while at the same time maintaining confidence among shareholders and other key stakeholders.

Act & Rulebook

The corporate governance of the Company is based upon Swedish law, mainly the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)) and the Swedish Annual Accounts Act (Sw. årsredovisningslagen (1995:1554)). As a company listed on Nasdaq Stockholm, the Company must also comply with Nasdaq Stockholm’s Rulebook for Issuers and the Swedish Corporate Governance Code (the “Code”) (Sw. Svensk kod för bolagsstyrning) as well as statements by the Swedish Securities Council (Sw. Aktiemarknadsnämnden) regarding good stock market practice on the Swedish securities market.

The company will apply the Code from the time of the listing of the shares on Nasdaq Stockholm. Any deviation from the Code will be reported in the company’s corporate governance report, which will be prepared for the first time for the 2021 financial year. However, in the first corporate governance report, the company is not required to explain deviations resulting from non-compliance with rules that were not applicable during the period covered by the corporate governance report. Currently, the company does not expect to report any deviations from the Code in the corporate governance report.

Board of directors

CTEK’s board of directors currently consists of nine 9 ordinary members, including the chairman of the board, with no deputy board members, all of whom are elected for the period up until the end of the Annual General Meeting 2022.

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General Meeting

The general meeting is the company’s highest decision-making body, where all shareholders have the right to participate and exercise voting rights.

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CEO and Group Management

The CEO is subordinated to the board of directors and primarily has responsibility for the day-to-day management of the Company’s affairs and the daily operations.

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Auditor

The auditor reviews the Annual report and the Sustainability Report for the company and the group and conducts an audit of one of the interim reports

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