Governance

Nordic Shipholding A/S will strive to meet a high standard within the area of corporate governance. The board of directors will regularly relate to the framework and principles of the overall management of the company. The objective is to ensure a long-term and value-added outcome for the shareholders.

Nordic Shipholding A/S lives up to most of the recommendations set out in the "Recommendations for corporate governance" published by NASDAQ OMX. The most important deviations are as follows:

Composition of the board of directors

For the time being Nordic Shipholding A/S sees no need for setting an age limit for board members as the company attaches great importance to the board consisting of members with considerably relevant business experience.

The company has not yet made (any) independent job and responsibility descriptions for the chairman and the vice-chairman. Some of the tasks are described in the board's rules of procedure. Besides, the board of directors has decided that independent rules of procedure for the chairman and vice-chairman should be seen.

Information and submission of information

Nordic Shipholding A/S publishes the major part of information about the company in both Danish and English. Considering that most of the company's shareholders are Danes, the company will publish certain information in Danish only.

Assessment of the performance of the board of directors and management

The board does not have an assessment procedure according to which the performance, results and composition of the board and the individual board members, including the chairman, are evaluated on a regular basis. Further, the board does not have a systematic assessment procedure with a view to improving the board work and criteria for the assessment. The board is considering whether such procedures should be implemented, however, does not as such meet the corporate governance recommendation regarding the board's self-assessment.

Plan for risk management

Nordic Shipholding A/S has already identified the risks to which the company is exposed and has drafted a plan outlining risk management measures in this connection. However, management is working on further systematizing the company's risk management due to changes in the company's scope of business in 2010.

Document	View
Articles of Association		301.3 KB
Articles of Association		176.1 KB
Exhibit 1 to Articles of Association		167.1 KB
Risk Management and Internal Control		5.7 KB
Corporate Social Responsibility		6.0 KB
Corporate Governance (Danish)		233.7 KB

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