Norconsult will comply with the Norwegian Code of Practice for Corporate Governance (NUES). The code was last revised on 14 October 2021 and available at the Norwegian Corporate Governance Committee’s web site www.nues.no.
Norconsult is not in compliance with the following recommendations of the Norwegian Code of Practice:
* 4. Equal Treatment of Shareholders
No shareholder may vote at the General Meeting for more than 25% of the shares issued by the Company. This is to prevent one single shareholder from taking control of the General Meeting and a possible hostile take-over of the Company. As a knowledge-based company with a strong tradition for employee ownership, Norconsult believes it is in no shareholder’s interest to do a hostile take-over.
* 6. General Meetings
It is not a requirement that all members of the Board of Directors attend the General Meeting. The Board of Directors did not do so in 2023, due to the items on the agenda that did not require this. The Chair of the Board of Directors is always present at General Meetings.
Norconsult’s corporate governance framework is subject to annual reviews and discussions by the Board.