NWG // CORPORATE GOVERNANCE
N e w W a v e G r o u p
A B
( p u b
Corporate governance l )
New Wave Group applies the relevant rules laid down in the Swedish Code of Corporate Governance (“ the Code ”) and the Swedish Annual Accounts Act . The company ’ s Board of Directors has thus drawn up this corporate governance report . More information about the Code may be found at www . bolagsstyrning . se , where there is also a description for foreign investors .
Responsibility for management and supervision of the Group is delegated between the shareholders at the Annual General Meeting , the Board and the CEO , which is done in accordance with the Swedish Companies Act , other legislation and regulations , applicable rules for listed companies , the company ’ s articles of association , the Board ’ s internal rules of procedure and other internal control instruments .
Shareholders
As of 31 December 2020 , the company had 15,811 shareholders . The proportion of share capital owned by institutions amounted to 46 % of the capital and 12 % of the votes . Foreign investors owned 13 % of the share capital and 3 % of the votes . The ten largest owners had a total holding corresponding to 67 % of the share capital and 91 % of the votes . For further information on the owners as of 31 December 2020 , please see pages 48-49 .
Annual General Meeting
The highest decision-making body is the Annual General Meeting ( AGM ), at which all shareholders are entitled to participate . The AGM is entitled to make decisions on all matters that are not in breach of Swedish law . At the AGM the shareholders exercise their voting rights to make decisions on the composition of the Board of Directors , the auditors and other important matters such as adoption of the company ’ s balance sheet and income statement , appropriation of profits as well as deciding to grant the Board of Directors and the CEO discharge from liability . This is in accordance with New Wave Group ’ s articles of association and Swedish legislation .
2020 Annual General Meeting
As a result of the spread of COVID-19 , New Wave Group resolved , in accordance with the Act ( 2020:198 ), that shareholders were not allowed to attend the AGM in person or by proxy . Shareholders were able to exercise their voting rights by way of postal voting . The AGM was held on 25 June 2020 in Kosta . Olof Persson was elected chairman of the meeting .
The following resolutions were passed : The AGM adopted the income statement and balance sheet , as well as the consolidated income statement and balance sheet , resolved to appropriate profits in accordance with the proposed appropriation of profits , in which all surplus was carried forward to new account , and discharged the Board members and CEO from liability .
ANNUAL REPORT // 039