Corporate Governance

CORPORATE GOVERNANCE

The Corporate Governance Committee has published a number of recommendations that all listed companies are encouraged to relate to and report on according to the follow-or-explain principle. The Companies must therefore follow the recommendations or explain why they do not.

The main topics that the company must address are:

  • The company´s communication and interaction with the company´s investors and other stakeholders
  • The duties and responsibilities of the Board of Directors
  • Management´s remuneration
  • Financial reporting, risk management and auditing

Danish Ship Finance reports annually on compliance with the recommendations. Reports from the last two years can be found below:

2019

2018

 

FINANCE DENMARK CODE OF MANAGEMENT

In addition to the recommendations of the Corporate Governance Committee and the applicable legislation, the Banking Council has drawn up a management code with recommendations for member companies. The purpose is to get banks, etc. to deal actively with the number of key management issues and to achieve greater transparency about the framework for the management of individual companies.

The management code must be applied according to the follow-or-explain principle.

Danish Ship Finance reports annually on compliance with the code.

Statement of the compliance with Finance Denmark code of management (in Danish)

DVCA GUIDELINES FOR CORPORATE GOVERNANCE

The Danish venture Capital and Private Equity Association (DVCA) has prepared a set of guidelines for responsible ownership and corporate governance, in addition to the other guidelines. They relate to the company level and the capital fund level. The guidelines are available on the DVCA website.

Equity funds and equity fund-owned companies must adhere to the guidelines according to the comply-or-explain principle. The guidelines also aim to increase the general level of information so that the general public has better opportunity to gain insight into the work of the mutual funds.

Compliance with DVCA guidelines (Danish)

CODE OF CONDUCT

One of the recommendations of the Danish Financial Council is that a code of conduct is drawn up and published with a description of the company´s values and desired behavior for the company´s operations and management.

 

Danish Ship Finance follows the recommendation and has prepared the following code

Sustainability

Effective from the financial statements for 2009, Danish Ship Finance must report on its initiatives pursuant to the Danish act on report on corporate social responsibility.

Sustainability-reports

2019

2018

2017

2016

2015

 

 

 

In addition the company has defined a CSR policy, which in future will form an integral part of day-to-day operations.

Remuneration policy

Danish Ship Finance has defined a remuneration policy the purpose of which is to determine the guidelines for Danish Ship Finance’s remuneration of:

  • The Board of Directors
  • The Management Board
  • Employees whose activities have a material impact on the company’s risk profile
  • Employees in special functions
  • Other staff

The aim of the remuneration policy is to ensure that the company’s remuneration of management and employees whose activities have a material impact on the company’s risk profile does not lead to excessively risk-tolerant behaviour. In addition, the remuneration policy reflects the fact that the interests of the shareholders and the company have been realigned with the company’s circumstances, and it seeks to create a balance between the assignments and the responsibility undertaken.

Remuneration policy for Danish Ship Finance