Magseis Fairfield ASA (“Magseis Fairfield” or “the Group”) strongly believes that good and sound corporate governance creates shareholder value and reduces risks, and the Group has made a strong commitment to develop high standards of corporate governance.
The Group has complied, and will continue to comply, with the latest revision of the Norwegian Code of Practice for Corporate Governance (“the Code”) which is available on the Norwegian Corporate Governance Board’s web site www.nues.no. The Code is based on the “comply or explain” principle. If the Group deviates from the requirements of the Code, the Company will provide a justification for the deviation.
Magseis Fairfield considers the development of high Corporate Governance standards as a continuous process and will continue to focus on improving the level of corporate governance. The Board of Directors has the overall responsibility for implementation of sound corporate governance principles within the Group.