With reference to the Norwegian Code of Practice for Corporate Governance, listed companies will be expected to practice corporate governance that regulates the division of roles between shareholders, board of directors and executive management beyond the requirements of the legislation.

The Code of Practice provides principles and guidelines in a number of significant areas which include

  • Business, objectives and strategies (ch 2)
  • Equity, dividend policy og capital increase (ch 3)
  • Equal treatment of shareholders (ch 4)
  • Transactions with close associates (ch 4)
  • Freely negotiable shares (ch 5)
  • General meetings (ch 6)
  • Nomination comittee (ch 7)
  • Composition of the board of directors and the corporate assembly (ch 8)
  • Independence (ch 6, 7, 8, 9, 10, 14)
  • The work of the board of directors (ch 9)
  • Internal control (ch 10)
  • Financial reporting (ch 9)
  • Board commitees (ch 9)
  • Renumeration of the board of directors and the executive management (ch 11, 12)
  • Information and communications(ch 13)
  • Take-overs (ch 14)
  • Auditor (ch 15)

The Code of Practice is intended to strengthen confidence in companies and to enhance the greatest possible value creation over time in the best interests of shareholders, employees and other stakeholders.