Corporate governance

Treasure ASA has a corporate governance regime which will comply with the Norwegian Code of Practice for Corporate Governance.

Treasure ASA is in compliance with the code, with the following exceptions:

  • The company is in deviation from section 6 of the code, as the Articles of Association stipulate that the chair of the company hosts the general meetings.
  • The company has a nomination committee. Such committee is however not provided for in the Articles of Association and the company is therefore in deviation with section 7 of the code.
  • The company has not developed opportunities for shareholders to submit proposals for candidates to the Nomination committee, deviating from the code section 7.
  • The whole board acts as a remuneration committee and the company therefore deviates from the requirements set out in section 9 of the code.
  • The board of directors has not determined guidelines for its response to possible takeover bids as recommended in section 14 of the code. However, the board would seek to treat all shareholders equally should such circumstances arise.

Nomination committee

Treasure ASA’s nomination committee is governed by a separate policy and has the following members: Wilhelm Wilhelmsen (chair), Gunnar Frederik Selvaag and Jan Gunnar Hartvig.

Audit committee

Treasure ASA’s board of directors composes the audit committee.

Remuneration committee

Treasure ASA has, given its limited operational scale, no separate remuneration committee.

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