Corporate governance

ODIN Forvaltning shall ensure that the interests of the funds and unit holders are taken care of in the best possible way. In order to enhance the value creation and/or highlight the assets of the companies in which the funds are invested, ODIN’s managers spend time to exercise shareholder rights on behalf of the funds’ unit holders and are otherwise concerned with compliance with the principles of good corporate governance by the companies the funds invest in.

ODIN Forvaltning’s performance of its own corporate governance is in accordance with the industry recommendation on corporate governance issued by Verdipapirfondenes Forening [The Norwegian Mutual Fund Association] (as updated per 28 December 2004).

Corporate Governance
ODIN is committed to good corporate governance and believes that this forms an important part of the analysis that ODIN’s managers make in connection with their investments. The managers will, to the extent corporate governance in a company is not adequate, seek to exercise influence through a direct dialogue with the company's board and management. This will, among other things, include matters such as the company's dividend policy and purchase of own shares as well as the company's information and communication practice. To the extent that ODIN’s managers finds it serviceable, they also work together with other shareholders to exercise ownership influence.

General meetings
According to the Norwegian Act on Securities Funds, voting rights for the funds’ shares may only be exercised pursuant to authority issued by the board, and this authority is valid only if a majority of the directors appointed by the unit holders are in agreement. The board issues authority to vote for one year at a time. The board is informed continuously about any controversial matters and it also receives a report once per year on the company's participation in general meetings and ODIN’s exercise of corporate governance during the year.

ODIN Forvaltning wishes to be represented at general meetings in selected companies in which the funds are invested. This takes place by attendance in person by the manager or via instructions included in the proxy. As the main rule, ODIN Forvaltning is not to make use of open-ended proxies.

To the extent that the voting by the ODIN funds is deemed to be controversial, ODIN will present information on the funds’ voting on the company's website.

Nomination of directors
ODIN Forvaltning wishes to influence the companies in order that the nomination of directors or members of other key corporate bodies will be transparent and efficient. This takes place through a dialogue with the company's nomination committee, the board or the management. ODIN also participates via membership in the company's nomination committee if this is desirable, provided this takes place without limiting ODIN’s freedom of action and is otherwise deemed to be in the unit holders’ best interest.

Any questions in connection with ODIN’s management of corporate governance may be submitted to Mr Jarl Ulvin, Director of Investments: Telephone +47 22 01 02 03