Corporate Governance

XXL’s corporate governance principles are based on the principles of equal treatment of all shareholders, with simultaneous access to reliable, relevant, up-to-date and equivalent information about the company’s business. XXL aims to ensure an appropriate division of roles between the management, the board of directors and the shareholders.

XXL has governance documents setting out principles for how business should be conducted. These apply to all XXL units. The XXL Governance policy is approved by the Board of Directors of XXL. The Company has implemented the Norwegian Code of Practice for Corporate Governance as last amended on 30 October 2014 (the “Code of Practice”) as available on www.nues.no.

The Code of Practice is based on “the comply or explain principle” whereby listed companies must comply with the Code of Practice or explain why they have chosen an alternative approach. XXL will follow the Code of Practice and any deviations from the recommendations in the Code of Practice will be explained in the annual statement on corporate governance in the annual report, pursuant to Section 3-3b of the Norwegian Accounting Act and Oslo Børs’ continuing obligations for listed companies.

XXL will publish an annual statement on corporate governance in connection with publishing of the Group’s annual report.

Management

Biographies for the management team can be found here.
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Board of Directors

Biographies for the Board of Directors can be found here.
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Dividend Policy

XXL will target a dividend pay-out ratio of 40-50 per cent of the Group’s annual net income
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General Meetings

The general meeting is the supreme body in XXL ASA.
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