Corporate Governance

Norgani Hotels AS (”Norgani”) is the parent company in the Norgani group which owns hotel properties in Sweden, Finland, Norway and Denmark. Norgani is fully owned by Oslo Properties AS, who in turn is 100% owned by Norwegian Property ASA. Norgani is registered in Norway and must therefore comply with applicable Norwegian law.

Good corporate governance is intended to contribute to the largest possible value creation over time. The company’s corporate governance principles are intended to ensure an appropriate division of roles between the owner, the board of directors (“The board”) and the chief executives.

The board’s composition is intended to ensure a broad business and management background, while its members collectively have an in-depth understanding of both the hotel and the property market as well. The board has overall responsibility for managing the group and for supervising the executive management and the group’s activities. The board appoints the CEO. Instructions which describe the rules of procedure for the board’s work and have been adopted by the board, and the board has drawn up instructions for the chief executive.

Overall goals and strategies are established and further developed through a continuous updating of the company’s strategy, and a matrix for delegation of responsibilities to defined roles in the organisation has been developed and implemented.