How Raketech is managed
The Board of Directors has the ultimate responsibility for the overall governance of Raketech, its administration and organisation as well as the handling of the Group’s business affairs. The operations are primarily conducted in compliance with Maltese law and is governed by Chapter386 of the Laws of Malta i.e. the Maltese Companies Act of 1995, as well as the Company’s memorandum and articles of association.
From the first day of trading on Nasdaq First North Premier and onwards, Raketech applies the Swedish Corporate Governance Code.
Articles of Association
The Board of Directors is composed by established business leaders with proven experience across several areas and industries. The Board of Directors consists of three to six members appointed at a general meeting in accordance with the Articles of Association.
The Nomination Committee prepares for the Annual General Meeting in advance, by nominating candidates for the Board of Directors and by preparing proposals for remunerations for the chairman of the Board of Directors other members of the Board of Directors and the auditor; remunerations for work in committees, if any; members and the Chairman of the Board of Directors; principles for the appointment of the nomination committee; the Chairman for the annual general meeting and appointment of the auditor. The proposals of the Nomination Committee together with an explanation of the proposals will be presented in the notice of the Annual General Meeting and on this website.
The general meeting is Raketech’s highest governing body at which shareholders exercise their influence in the company. Each of the Company’s shares entitles the holder to one vote at general meetings and shareholders are entitled to vote for the total number of shares that they hold in the Company. Information about the date and venue for the Annual General Meeting will be published on this website in connection with the announcement of the Q3 report.
Remuneration of the Board, CEO and executive management team is decided at the Annual General Meeting. Compensation for senior executives is determined by the CEO and consists of a salary, pension and other customary benefits. The Board of Directors has appointed a Remuneration Committee with the responsibility to ensure that Raketech has a formal process for establishing Raketech’s policy for remuneration.
The employee incentive programme is designed to contribute to the future success of the Company and benefit shareholders through continued long-term growth of Raketech.
Since December 2016 (i.e. for the 2017 and 2016 financial years) the accounting firm PwC has been the auditor for Raketech. Romina Soler, Authorised Public Accountant and member of the Malta Institute of Accountants, is auditor-in-charge. PwC’s address is 78 Mill Street, Qormi QRM3101 Malta.