MAG Interactive is a Swedish public limited liability company. As a Company listed on Nasdaq First North Premier, the Company applies Swedish laws (e.g. the Swedish Companies Act (Sw. Aktiebolagslagen (2005:551)) and the Swedish Annual Accounts Act (Sw. Årsredovisningslagen (1995:1554))) and regulations, the Company’s articles of association, internal rules and instructions, and the Nasdaq First North - Rulebook, as well as other Swedish and foreign laws and regulations, as applicable. The Company also applies the Swedish Corporate Governance Code (the “Code”).
The Code defines a norm for good corporate governance on a higher level of ambition than the Swedish Companies Act and other regulations’ minimum requirements. The Code is based on the principle “comply or explain”. This means that the Company is not required to apply every rule of the Code at all occasions, but may choose alternative solutions deemed to better respond to particular circumstances, provided that the Company openly discloses all such deviations, describes the alternative solution and states the reason for the deviation.
The Company does comply with the Code, with the exception of one point. This relates to the Nomination committe where Kaj Nygren is acting chairman and Johan Persson is a member. Both are members of the company management.
ReAsons for deviating from the Code
A large share of the ownership of the company is within the founding team, who are also still part of the company management. Two of the largest shareholders, Kaj Nygren and Johan Persson, were appointed members of the nomination committee representing NMO Invest, Playful days as well as the other founders.