Corporate Governance

Corporate Governance principles

Governance at Tokmanni Group (hereinafter also referred to as “Tokmanni” or the “Group”) is based on the Articles of Association approved by the General Meeting of Shareholders, the Finnish Limited Liability Companies Act and the rules and regulations issued by Nasdaq Helsinki Ltd with regard to listed companies. Tokmanni complies  with the Finnish Corporate Governance Code for listed companies issued by the Securities Market Association in 2015. The code is available at www.cgfinland.fi

The corporate governance statement is published as a separate document and the first corporate governance statement in accordance with the Finnish CG Code 2015 was published for the year 2016.

Corporate Governance Statement 2016

Corporate Governance Statement 2015

Regulatory framework

The duties of Tokmanni's governing bodies are based on Finnish law. In addition to the Finnish Corporate Governance Code for listed companies, Tokmanni complies with the corporate governance principles defined by its Board of Directors.  The corporate governance principles are based on the Limited Liability Companies Act and the Securities Markets Act. In addition, Tokmanni observes other laws and decrees, its Articles of Association and the Guidelines for Insiders issued by Nasdaq Helsinki Ltd (Helsinki Stock Exchange). Tokmanni prepares its consolidated financial statements, interim reports and business reviews in accordance with international financial reporting standards adopted in Europe (Inter- national  Financial  Reporting Standards, IFRS),
the Securities Markets Act, applicable regulations and guidelines of the Financial Supervisory Authority and the rules of Nasdaq Ltd (Helsinki Stock Exchange). The Board of Directors’ report, which is included in Tokmanni’s financial statements, is prepared in accordance with the Ac- counting Act and the guidelines and statements of the Accounting Standards Board.
 

Tokmanni’s governing bodies

In accordance with Tokmanni’s single-level governance model, its management falls within the responsibility of the General Meeting of Share- holders, the Board of Directors and the CEO, whose duties are primarily determined in line with the Finnish Limited Liability Companies Act. The Annual General Meeting elects the members of  the Board of Directors and appoints the audi-    tors. The Board of Directors is responsible for the company’s strategic management. The Board of Directors appoints the CEO, who is responsible   for the company’s day-to-day management. The Executive Group supports the CEO in managing the Group.

These Corporate Governance Principles apply to the company and all its subsidiaries and decision making bodies of the Group.

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