Implementation and reporting

The Board of Directors has the ultimate responsibility to ensure that the company is practicing good corporate governance. The company's Board of Directors and management conducts a thorough review and assessment of its principles of corporate governance annually.

Hofseth BioCare is a Norwegian public limited company and is listed on Oslo Axess. The Norwegian Accounting Act § 3-3b and the rules on the Continuing Obligations for stock listed companies Section 7 impose a duty on the Company to issue in the annual report its principles and practice for corporate governance. The review should include every single point in adherence to the Norwegian Code of Practice for Corporate Governance (NUES). The Company should comply with all recommendations of the Code or explain why it has chosen an alternative approach.

Policies for the Continuing Obligations for stock listed companies is available on the Oslo Stock Exchange and the Norwegian Code of Practice for Corporate Governance is available on NUES.

The review is part of the company's annual report. The report is also available on Hofseth BioCare ASA's homepage.

Values and guidelines for business ethics and corporate social responsibility are essential to the Company's competitiveness.

Hofseth BioCare is committed to transparency about it's guidelines for management of the Company. This strengthens the value creation, builds internal and external confidence and promotes a code of ethics and sustainable approach to business.

Hofseth BioCare is founded on the core value of sustainability and optimal use of natural resources. The Company aspires to create a healthy company culture based on these core values. The Board of Directors has approved the Code of Conduct for business ethics and corporate social responsibility. The Company's customization of the Code of Conduct and the internal guidelines ensures a proper division of roles and responsibilities and well-functioning cooperation among the Company's shareholders, the Board of Directors and its management, and that the business is subject to satisfactory control. An appropriate distribution of roles, effective collaboration and satisfactory control contributes to the best possible value creation over time, for the benefit of it's owners and other stakeholders.
The company's code of Ethics deals with the handling of impartiality, conflicts of interest, relationships with customers and suppliers, relations with the media, insider trading and relevant financial interests of a personal nature.

The Company's website provides more information about the Company's vision and key objectives.