Work of the board of directors

The work of the board are held in accordance with a formal work plan of the board of directors, which is adopted at the first ordinary board meeting after the Annual General Meeting. The formal work plan is a complement to current legislation, Nasdaq OMX Stockholm's rules, the articles of association and the Swedish code of corporate governance. The formal work plan includes instructions on the frequency of meetings, the division of duties and reporting between the board, the chairman of the board and the CEO.

Klövern's board has five ordinary meetings, including a statutory meeting, per calendar year. The ordinary meetings have complied with the calendar for the set work order for the respective meeting. According to the calendar, a report is to be made at each meeting on the result and financial position and investments and transactions exceeding SEK 10 million. In addition, the agenda includes matters relating to audit, internal control, remuneration, policies, evaluations and budget. Once a year, the Board has a meeting focusing on the business plan, strategy och future-related issues. All meetings are minuted. The work of the board is evaulated annually through a systematic and structured process.