The Chairman of the Board shall during the year convene a meeting with the three largest shareholders or known group of shareholders of the Company, who each shall have the right to appoint one member of the Nomination Committee. If any of the three largest shareholders or known group of shareholders renounce from their right to appoint a member of the Nomination Committee, the next largest shareholder or known group of shareholders is to be provided with the opportunity to appoint a member of the NominationCommittee. In addition, the Chairman of the Board shall be a member of the Nomination Committee.
Neither the CEO nor any other member of the management shall be a member of the Nomination Committee. The Chairman of the Board shall convene the initial meeting of the Nomination Committee. A representative of the shareholders shall be elected as Chairman of the Nomination Committee. The term of office for the Nomination Committee is until a new Nomination Committee has been appointed. The names of the members of the Nomination Committee shall be announced no later than four months prior to the Annual General Meeting.
The Nomination Committee shall be constituted based on known ownership of the Company yearly, as of 31 August. In the event of major changes in the shareholding of the Company after the establishment of the Nomination Committee, the composition of the Nomination Committee may be changed in accordance with the above principles. Such changes shall be made public immediately.
The Nomination Committee shall prepare and at the Annual General Meeting resent proposals regarding the election of Chairman of the Board along with other members of the Board, remuneration of the members of the Board divided between the Chairman and other members and, where appropriate, compensation for work in committees, election of and fee to the auditors, establishment of the principles regarding election of the Nomination Committee, and election of Chairman for the Annual General Meeting.
The Nomination Committee shall, upon approval by the Chairman of the Board, be entitled to burden the company with costs, for example in respect of recruitment consultants or other costs necessary for the Nomination Committee to fulfil its duties.
The Nomination Committee is comprised of:
Rune Löderup and Staffan Lindgren