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Governance principles

Savosolar organizes its administration in accordance with the Finnish Limited Liability Companies Act and the Articles of Association. The administration of Savosolar also complies with rules and instructions concerning it, issued by the Finnish Financial Supervisory Authority and NASDAQ OMX Helsinki. Savosolar´s shares are listed in Nasdaq First North Growth Market Sweden and Nasdaq First North Growth Market Finland. The administration of Savosolar complies with Nasdaq Firsth North Growth Market Rulebook.

According to the Finnish Limited Liability Companies Act, the administration is divided between the General Meeting of shareholders, the Board of Directors and the President and CEO. The highest decision-making body is the Annual General Meeting, which is composed of the company’s shareholders.

The Board of Directors, elected by the Annual General Meeting, and the CEO, elected by the Board,  are responsible for the management and strategy of the company. Other members of Management Group assist the President and CEO in his/her tasks.

The company does not follow the recommendations of the Corporate Governance Code for Finnish listed companies because the company does not deem it expedient in view of the company’s size and its scope of business.