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 2020 issued by the Finnish Securities Market Association. The Code is publicly available at http://cgfinland.fi/en. The Finance and Audit Committee of Tokmanni’s Board of Directors has reviewed the Corporate Governance Statement.
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 (International 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 Accounting 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 Shareholders, 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 auditors. 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.
