NWG Annual Report 2019 - EN NWG Annual Report 2019 - EN | Page 39
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NWG // CORPORATE GOVERNANCE
Corporate governance
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.
R
esponsibility for management and
supervision of the Group is dele-
gated between the shareholders at the
Annual General Meeting, the Board and
the CEO, which is done in accordance with
the Swedish Companies Act, other legis-
lation 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 2019, the company
had 13,907 shareholders. The proportion
of share capital owned by institutions
amounted to 47 % of the capital and 13 %
of the votes. Foreign investors owned 12%
of the share capital and 3 % of the votes.
The 10 largest owners had a total holding
corresponding to 70 % of the share capital
and 92 % of the votes. For further infor-
mation on the owners as of 31 December
2019, 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.
2019 Annual General Meeting
The AGM for shareholders of New Wave
Group was held on 17 May 2019 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 conso-
lidated income statement and balance
sheet, resolved to appropriate profits in
accordance with the proposed appropri-
ation of profits including a dividend of SEK
2.00 per share to take place for the 2018
financial year, and discharged the Board
members and CEO from liability.
ANNUAL REPORT // 039