Since July 1, 2008, all companies listed on the OMX Nordic Exchange Stockholm have been obliged to apply the Swedish Code of Corporate Governance (“the Code”). The purpose of the Code is to improve the governance of Swedish companies, especially to ensure that companies are oper­ated in accordance with the interests of their owners. Good corpo­rate governance, in turn, increases confidence in the companies on the capital market and among the general public. Companies that are not obligated to apply the Code can choose to do so voluntarily. The term “applying the Code” involves a company taking an active position as to how the company will relate to the various regulations in the Code. To the extent that companies choose to depart from the rules of the Code, this shall be reported in accordance with the principle of “comply or explain.”