Page 97 - Bouvet årsrapport ENG 2010 ePub

Bouvet annual report 2010 97

To the extent that analysts or shareholders contact it for further details, Bouvet and the board will ensure that only informa-tion which has already been made public is provided.

Bouvet’s website is an important tool in its communication policy. All published in-formation will be posted to this site, which will also be used to receive proposals to the nomination committee and other commu-nications from shareholders.

Te group holds quarterly open pres-entations. Tese provide an overview of operational and fnancial developments in the previous quarter as well as an overview of market prospects and the outlook for the business.

Tese presentations are given by the chief executive. Interim reports and presentation materials are made available on the group’s website.

Te board determines the group’s fnancial calendar, which specifes the dates for publi-cation of interim reports, the annual general meeting and the payment of dividend. Tis calendar is published by the end of Decem-ber via the Oslo Stock Exchange’s informa-tion system and on the Bouvet website.

14. Takeovers

In the event of a bid for the parent com-pany’s shares, the board and the executive management will ensure that everyone gets

access to sufcient information to be able to reach a decision on the ofer. Unless other-wise instructed by the general meeting, the board will not deploy defensive mechanisms to prevent the implementation of the bid.

Te board will provide shareholders with its view of the ofer and, providing they have reached a decision on this, directors are duty-bound to inform shareholders whether they personally intend to accept the bid.

Should the board fnd that it is unable to recommend whether the shareholders should accept the bid, it will explain the reasons why such a recommendation cannot be given. An explanation must be provided if the board’s decision is not unanimous.

Te board will consider whether an assess-ment should be obtained from an independ-ent expert.

15. Auditor

Bouvet is audited by Ernst & Young AS.

Te group does not use the auditor as a consultant unless this has been approved in advance by the board or its chair. A plan for their work is submitted annually by the external auditor to the board, and this plan will specify planned services other than auditing.

Te auditor attends the board meeting which deals with the annual accounts. During this meeting, the auditor will review

possible changes to the company’s audit-ing principles, assessments of signifcant accounting estimates and all case where disa-greement has arisen between the auditor and the executive management.

Te auditor’s fee will be presented to the chair of the audit committee, who evalu-ates it and makes a recommendation to the general meeting. Information on the audi-tor’s fee is provided in note 19 to the annual accounts.

At least once a year, the auditor will conduct a review with the audit committee of the company’s internal control system and possible weaknesses. Te auditor will also propose improvements. In addition, the board and the auditor will hold at least one meeting a year without the chief executive or other executive personnel being present.

A briefng on the audit work and an assess-ment of the group’s internal control will be provided by the auditor to the general meeting.