GOVERNANCE
SOUND GOVERNANCE ENHANCES SPRING ENERGY'S ABILITY TO ACHIEVE ITS OBJECTIVES
The Board believes that sound governance, risk management and control enhance Spring Energy’s ability to achieve its objectives and create sustainable value for its shareholders and other stakeholders.
Spring Energy is transparent in its commitment to best practice in corporate governance, and makes public commitments to its adherence to ethical guidelines and corporate social responsibility.
A robust model of governance, risk management and control has been implemented at all Company levels, enabling management and staff to work towards achieving the Company’s objectives in the common interest of all stakeholders.
Spring Energy's governance model is based on the Norwegian Code of Corporate Governance (“NUES”), taking into account the private limited company status and current shareholder structure, and aim to contribute to competitive value creation through improved decision processes under clearly defined objectives and strategies, enhanced assessment processes related to risk and risk mitigating factors to ensure capital discipline and efficient resource allocation and transparency towards shareholders and other stakeholders, all in compliance with laws, regulations and best-practice.
As the Company moves towards becoming a publicly listed Company, full compliance with the NUES and all Oslo Stock Exchange requirements will be sought.
Click here to download Spring Energy's current corporate governance policy (approved by the Board in November 2008).