The Corporate Governance Policy of Petrolia SE (“Petrolia” or “the Company”) addresses the responsibility and interaction between shareholders, the General Assembly, the Board of Directors (“the Board”) and the executive management.
As Petrolia is listed on the Oslo Stock Exchange, it follows the Norwegian Code of Practice for Corporate Governance of 30 October 2014 (the "Code of Practice"). Adherence to the Code of Practice is based on a “comply or explain” principle, whereby companies are expected to either comply with the Code of Practice or explain why they have chosen an alternative approach. The Code of Practice is published on www. nues.no/English
Any deviations from the Code of Practice are discussed under the relevant sections. In addition to the Code of Practice, the Norwegian Accounting Act § 3-3 stipulates that companies must provide a report on their policies and practices for corporate governance either in the annual report or in a document referred to in the annual report. This report is integrated into this Corporate Governance statement.
The holding company Petrolia SE is domiciled in Cyprus and adheres to Cypriot law, consequently various associated policies can be subject to updates and revisions. Any updates and changes in the Company's Corporate Governance Policy will be published on the company's website: www. petrolia.eu.
Please click on the link below for an account outlining how Petrolia has implemented the Code of Practice.