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Corporate Governance Statement
This Corporate Governance Statement has been composed in accordance with Recommendation 51 of the new Corporate Governance Code and Chapter 2, Section 6 of the Finnish Securities Market Act. The Corporate Governance Statement is issued separately from the company’s annual report.
General principles
Basware Corporation is a public limited company registered in Finland and its head office is located in Espoo, Finland. Basware Group (Basware) is comprised of the parent company Basware Corporation, its one Finnish subsidiary and 9 foreign subsidiaries.
Decision-making and governance at Basware comply with the company’s Articles of Association, the Finnish Companies Act, and other applicable legislation. In addition, the company complies with the recommendations of NASDAQ OMX Helsinki Ltd, the Central Chamber of Commerce of Finland and the Confederation of Finnish Industries EK on corporate governance with the exceptions mentioned in these principles as well as NASDAQ OMX Helsinki Ltd’s Guidelines for Insiders. The subsidiaries comply with local legislation.
Basware complies with the Finnish Corporate Governance Code published by the Securities Market Association with the following exception:
• Basware’s Board of Directors does not have separate committees as the extent of the company’s operations and the size of the Board of Directors do not require matters to be prepared by a body smaller than the entire Board of Directors.