Vimian is a Swedish public limited liability company. Before listing on Nasdaq First North Growth Market, corporate governance in the Company is based on Swedish law and internal rules and instructions. Once the Company has been listed on Nasdaq First North Growth Market, the Company will also comply with Nasdaq First North Growth Market regulations for issuers and apply the Swedish code for corporate governance (“the Code”). The Code applies to all Swedish companies with shares listed on a regulated market in Sweden, as well as Nasdaq First North Premier. Thus, the Code does not apply to the Company, but the Company has chosen to apply it from its listing. The Company does not have to comply with all rules in the Code as the Code itself allows for deviation from the rules, provided that such potential deviations and the chosen alternative solution are reported and the reasons for this explained in the corporate governance report (according to the so-called “comply or explain principle”).
The Company will apply the Code from the time of the listing of the shares on Nasdaq First North Growth Market. Any deviation from the Code will be reported in the Company corporate governance report, which will be prepared for the first time for the 2021 fiscal year. However, in the first corporate governance report, the Company does not need to explain deviations that are a result of a failure to comply with rules for which application has not been updated during the time period covered by the corporate governance report. The Company does not currently expect to report any deviation from the Code in the corporate governance report.