Axactor Annual Report 2016

Report on Corporate Governance 1. Introduction to the corporate governance policy The board of directors of Axactor AB (the “Company”) has prepared this corporate governance policy document (the “Policy”). As the Company is a Swedish private limited liability listed on the Oslo Stock Exchange, the Norwegian Recommendation for Corporate Governance (the “Recommendation”) does not apply directly to the Company. However, with due regard to the fact that the Company is listed in Norway and to a substantial degree approaches the Norwegian investor market, and considering that Company wishes to place emphasis on sound corporate governance, the Company has prepared this policy document on the basis of the Norwegian Recommendation, but made certain necessary adjustments given the Company’s Swedish domicile. This Policy addresses the framework of guidelines and principles regulating the interaction between the Company’s shareholders, the board of directors (the “Board”), the chief executive officer (the “CEO”) and the Company’s executive management team (the “Executive Management Team”). 2. Business activity The Company’s business as set out in the articles of associa- tion is: “The Company shall, directly or through subsidiaries or via co-operations with others, conduct debt collection work, extend financial and administrative services, legal and invoicing services, acquire debt, investment operations, as well as therewith associated activities”. Objectives and strategies Engaging in the activities described above, the Company’s long term objective is to establish itself as a leading European player within the areas of its operations as defined by the articles of association. The Company will pursue the following main strategies to reach its overall objective: ·· Putting emphasis on loyal and satisfied customers; ·· Being an innovative player that takes full advantage of available technologies to achieve competitive advantages; ·· Identifying and securing access to attractive debt portfolios and other opportunities in the marketplace; ·· Being an attractive employer, with a focus on creating an environment for professional and personal growth, with respect and due regard for each employee; ·· Being a profitable company with a focus on organic and structural growth; and ·· Putting emphasis on becoming and sustaining a position as a leading European player in the Company’s market. Ethical guidelines and values The Company will maintain a high ethical standard in its business concept and relations with customers, suppliers, employees and other stakeholders. The following ethical guidelines shall be practiced in the Company, and shall apply to all employees of the Company: ·· Personal conduct: All employees and representatives of the Company shall behave with respect and integrity towards business relations and partners, customers and colleagues. The Executive Management Team has a particular respon- sibility to promote openness, loyalty and respect. ·· Conflict of interests: The Company’s employees and representatives shall avoid situations wherein a conflict between their own personal and/or financial interests and the Company’s interests may occur. ·· Confidential information: Employees and representatives of the Company possessing confidential information related to the Company shall conduct themselves and safeguard such information with great care and loyalty, and comply with any and all signed confidentiality statements. ·· Influence: The Company’s employees or representatives shall neither directly nor indirectly offer, promise, request, demand or accept illegal or unjust gifts of money or any other remuneration in order to achieve a commercial benefit. ·· Competition: The Company supports fair and open competition. The Company’s employees or representatives shall never take part in any activities that may constitute a breach of competition legislation. ·· Breach of ethical guidelines: Any breach of these ethical guidelines may have severe consequences for the Company, and any breach may have consequences for the person in question. 3. Company capital and dividend The Board aims to maintain a satisfactory equity ratio in the Company in light of the Company’s goals, strategy and risk profile, thereby ensuring that there is an appropriate balance between equity and other sources of financing. The Board shall continuously assess the Company’s capital requirements in light of the Company’s strategy and risk profile. The Board’s authorities to increase the share capital and to buy own shares shall be granted under Swedish law, and not for periods longer than necessary. The Company’s objective is to generate a return for the share- holders at a level which is at least equal to other investment possibilities with comparable risk. The Company does not distinguish between such a return in the form of dividends and in the form of capital appreciation. The Company is in a phase of growth, and does not foresee declaring dividends during the initial growth phase of the Company. Axactor AB | Annual report 2016 76