Eidesvik Offshore ASA has implemented guidelines for corporate governance based on
the Norwegian Code of Practice for Corporate Governance of 17th October 2018 (the Code). The purpose of these guidelines is to regulate the division or roles between Shareholders, the Board of Directors and the Executive Management beyond what follows from the legislation.
These principles cover key elements such as:
- Instructions for the Board of Directors
- Instructions for CEO
- Company’s core values and ethical standards
- Guidelines for planning and budget work, handling of price-sensitive information and insider trading
- Guidelines for determination of salary and other remuneration to the management in EIOF
- Guidelines for use of the auditor
- Guidelines for information from the company
- Insider Trading regulations for primary insiders in Eidesvik Offshore
The Company has decided for the time being not to have a separate nomination committee or corporate assembly, as the Board of Directors does not see any advantages of this for a company with Eidesvik’s structure. The corporate governance guidelines do not discuss the dividend policy. In connection with the stock exchange introduction in the summer of 2005, it was announced that the Company would follow a moderate and predictable dividend policy, taking into consideration the future investment needs and growth rate.