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Board committees

Tasks of the Audit Committee and the Remuneration Committee

In connection with the listing on Nasdaq First North Growth Market and the inaugural meeting of the board, the board established an audit committee and that the board as a whole will fulfil the tasks of the remuneration committee. The audit committee and the remuneration committee are preparatory bodies of the board.

Remuneration committee

The tasks of the remuneration committee include the preparation of proposals on remuneration principles, remunerations and other employment terms for the executive management. The remuneration committee shall also monitor and evaluate any programs for variable remuneration for the executive management, the application of the guidelines for remuneration to the executive management adopted by the general meeting, as applicable, as well as the current remuneration structures and remuneration levels in the Company.

Audit committee

The main tasks of the audit committee shall be to, without otherwise affecting the board’s responsibilities and duties, ensure that a satisfactory level of control over risk management, internal control, accounting and financial reporting exists and ensure that the Company’s financial reporting is prepared in accordance with laws, other relevant regulations and applicable accounting standards. The committee shall ensure a maintained, ongoing contact with the external auditor, review the performance and evaluate the work of the external auditor and make recommendations to the nomination committee for the appointment, reappointment or termination of appointment of the external auditor. The committee shall also review and assess the external auditor’s independence and objectivity towards the Company and pay particular attention to whether the auditor provides and is allowed to provide the Company with services other than auditing. Furthermore, the committee shall inform the board of the results of the external audit, in what way the audit contributed to the reliability of the financial reports and what function the committee have had.