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Part of the Board of Directors’ work is divided into specific areas to allow for delegated focus and responsibility in support of Management and the annual plan of activities. Each of the two committees has a charter, which sets out the committee’s purpose, responsibilities and procedural matters. Furthermore, each committee annually conducts and evaluates its work and reviews its charter.
The function of the Audit and Risk Committee is to assist the Board of Directors by reviewing information within the areas of responsibility of the Audit and Risk Committee, including, but not limited to, financial accounting, capital and liquidity planning, financial reporting, systems of internal control and risk management, external audit of the annual report, tax exposure, identification and reporting of risks such as liquidity, accounting and strategic risks, Nordic Solar’s whistleblower scheme and reporting on any whistleblower cases to the Board of Directors as well as any other activities delegated to the Audit and Risk Committee by the Board of Directors.
The Audit and Risk Committee must meet as often as is deemed appropriate and necessary and at least prior to the publication of an external financial report. In addition, the Audit and Risk Committee plans to meet with Nordic Solar’s external auditor at least once a year.
The majority of the members of the Audit and Risk Committee are to be considered independent as defined in the Danish Corporate Governance Recommendations applicable from time to time.
As of 30 September, the Audit and Risk Committee consists of:
The function of the Nomination and Remuneration Committee is to monitor, review and assist the Board of Directors by making recommendations within the areas of responsibility of the Remuneration and Nomination Committee, including, but not limited to, recommendations regarding the company’s remuneration policy and general incentive programme guidelines, monitoring compliance with the remuneration policy and assisting the Board of Directors in ensuring that appropriate plans and processes are in place for the nomination of candidates to the Board of Directors and the Executive Management team.
The Remuneration and Nomination Committee must meet as often as its roles and responsibilities reasonably require but must have at least four meetings per financial year.
The majority of the members of the Remuneration and Nominations Committee are to be considered independent as defined in the Danish Corporate Governance Recommendations applicable from time to time.
As of 30 September, the Remuneration and Nomination Committee consists of:
Investors
Nordic Solar prepares quarterly and annual reports throughout the financial calendar year as well as holds an annual general meeting. The dates are published at the beginning of each calendar year.
