Investors
Corporate governance status as pr. Dec. 31, 2007
The Board remains committed to ensuring high standards of corporate governance are maintained throughout the Company.
The main corporate governance objective of Electromagnetic Geoservices ASA (“EMGS” or the “Company”) is to have systems for communication, monitoring, responsibility and incentives that create the greatest value over time for shareholders, clients and employees. The objective of EMGS is to comply with all relevant laws and regulations affecting the Company and its business activities, as well as the Norwegian Code of Practice for Corporate Governance (“Code of Practice”).
The Company’s board of directors has adopted the Code of Practice dated 28 November 2006 and intends to adopt the Code of Practice of 4 December 2007 in the course of 2008. The Company may deviate from the principles of the Code of Practice if required for special purposes. In the following it is set out how the Code of Practice is accommodated through the financial year 2007 for each section. Any deviations from the Code of Practice are addressed in relation to the relevant section.
1. Corporate values and ethical guidelines
4. Equal treatment of shareholders and transactions with close associates
8. Composition and independence of the board of directors
9. The duties of the board of directors
10. Risk management and internal control
11. Remuneration to the board of directors
12. Remuneration of the executive management
13. Information and communications
