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Cortus Energy AB is a Swedish limited company. The stocks are traded on Nasdaq First North Growth (symbol CE). Cortus Energy AB’s corporate governance is based on Swedish legislation.
The governance of Cortus Energy takes place through the annual general meeting (the highest authority of the company), the board and the CEO. This is according to the Swedish limited company legislation, the company’s articles of association and internal regulation.
Cortus Energy AB’s board consists of five full members. Employees in the company and/or specialists in specific areas take part in board meetings when needed.
The board’s work is controlled by a yearly stated procedure, which regulates the internal regulation, the decision-making structure within the company, authority to sign for the firm, the board’s meeting agenda and the tasks of the chairman.
The board monitors the work of the CEO. The board is responsible of that the organization, the corporate government and guidelines for the management of the company’s means are appropriately organized. The board is further responsible of the development and follow-up of the company strategy through plans and goals, decisions about acquisitions, larger investments, nominations to the corporate government and ongoing follow-up of the activities through the year. The board do also fix the budget and is responsible of the annual financial report.
The chairman directs the board in order to follow the Swedish limited company legislation and other relevant legislations. He or she follows the activities in dialogue with the CEO and is responsible of that the other board members get the accurate information for decision making and discussions of high quality. The chairman is also responsible of the evaluation of the work of the board.
The board agenda consists of several relevant events for the company that are treated at every board meeting
- Financial report: report material review
- Investments: decisions regarding investments above 1,0 MSEK based on received documentation
- Acquisition: presentation of ongoing acquisition discussions, and decisions regarding acquisition of companies or business categories when relevant
- Communiqué: review of proposed report for external publication
In addition, the board receives a monthly written report regarding the company’s result and position. Further the CEO has continuous contact with the chairman
ANNUAL GENERAL MEETING 2023
Notice of Annual General Meeting 2023
Power of attorney form for Annual General Meeting 2023
Shareholders’ proposal for a decision on warrants for board members
The board’s proposal for a decision on warrants for employees
ANNUAL GENERAL MEETING 2022
Notice of Annual General Meeting 2022
Power of attorney form for Annual General Meeting 2022
ANNUAL GENERAL MEETING 2021
Notice of Annual General Meeting 2021
Power of attorney form for Annual General Meeting 2021
EXTRA GENERAL MEETING JULY 14th 2020
Notice of Extra General Meeting
Power of attorney form for Extra General Meeting
Report of the Board of Directors – set-off issue
Report of the Board of Directors – significant events
Auditor’s opinion – set-off issue
Auditor’s Statement – Significant Events
ANNUAL GENERAL MEETING (AGM) 2020
Annual general meeting may 26th 2020 17:00
Proxy form to annual general meeting 2020 (Swedish)
The Board’s proposal for a new articles of association
The Board’s proposal for a decision on warrants for employees
The Board of Directors’ proposal for a decision to reduce the share capital for loss cover
Shareholders’ proposals for resolutions on warrants to the Board of Directors
ARTICLES OF ASSOCIATION
THE BOARD
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Per-Olov Norberg, born 1943Per-Olov is independent in relation to the company and the company management as well as to the company’s major shareholders. Chairman and board member since 2013. EDUCATION AND EXPERIENCE: Per-Olov Norberg has a master’s degree in economics from the Gothenburg School of Economics. Per-Olov Norberg has extensive industrial experience from senior positions within the Nordic Oxygen Plants, Bofors, Bulten-Kanthal, Platzer Bygg, Uddeholm, Kanthal, Trustor and C-E Johansson, among others. OTHER ONGOING ASSIGNMENTS: None. HOLDINGS: 129 656 461 shares |
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Richard Bagge, born 1951Richard is independent in relation to the company and the company management as well as to the company’s major shareholders. Board member since 2013. EDUCATION AND EXPERIENCE: Richard Bagge has a master’s degree in economics from the Stockholm School of Economics. Richard Bagge has a long experience from the financial industry where he has both been employed and worked with his own investment business. OTHER ONGOING ASSIGNMENTS: Chairman of EasyFill AB (publ) and partner at Partner Fondkommission AB. HOLDINGS: 3 041 469 shares through companies |
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Peter Forssell, born 1963Peter is independent in relation to the company and the company management as well as to the company’s major shareholders. Board member since 2014. EDUCATION AND EXPERIENCE: Peter Forssell has a master’s degree (MSc in Forestry) from the Swedish University of Agricultural Sciences in Uppsala. Peter Forssell has extensive experience from the forest industry, partly as marketing manager for one of the larger Swedish sawmill companies, and partly as owner and chairman of the board of P. Forssell Timber AB. P. Forssell Timber AB represents a number of the Swedish leading sawmills in the Japanese market, e.g. SCA Wood AB. OTHER ONGOING ASSIGNMENTS: Chairman of the Board of P. Forssell Timber AB and board member of Rumor Investments AB and Forssell Holding AB. HOLDINGS: 37 326 526 shares through companies |
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Tobias Wennberg, born 1982Tobias is independent in relation to the company and the company management as well as to the company’s major shareholders. Board member since 2020. EDUCATION AND EXPERIENCE: Tobias Wennberg has a degree in economics and law from Stockholm and Linköping universities, respectively, and runs his own consulting business. He has previously held senior positions within Saab Group and E.ON, with a focus on market and business development as well as investments and incubator operations. OTHER ONGOING ASSIGNMENTS: Board member of Adscendo AB. HOLDINGS: 682 697 shares |
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Rolf Ljunggren, born 1963Rolf is independent in relation to the company and the company management as well as to the company’s major shareholders. Board member since 2013. EDUCATION AND EXPERIENCE: Rolf Ljunggren has a master’s degree in engineering from the Royal Institute of Technology. Rolf Ljunggren founded Cortus AB in 2006 and already has extensive experience from senior positions within AGA, Uddeholm, Proceedo and Invenys, among others. OTHER ONGOING ASSIGNMENTS: Board member of Redigo GHG Invest AB. HOLDINGS: 12 858 784 shares privately and through companies. |
SENIOR EXECUTIVES
CEO SINCE 2019
EXPERIENCE: Håkan Sigfridsson is a trained high school economist in accounting and marketing. Håkan Sigfridsson has been involved in Cortus Energy AB since March 2017 and employed since November 1, 2017. Håkan Sigfridsson has extensive experience from executive positions in purchasing, aftermarket, production and company management, primarily within the defense group Saab AB.
OTHER ONGOING ASSIGNMENTS: Chairman of the Board of K-Light Holding AB.
HOLDING: 1 503 756 shares.
FOUNDER AND VICE PRESIDENT
EDUCATION AND EXPERIENCE: Rolf Ljunggren has a master’s degree in engineering from the Royal Institute of Technology. Rolf Ljunggren founded Cortus AB in 2006 and already has extensive experience from senior positions within AGA, Uddeholm, Proceedo and Invenys, among others.
OTHER ONGOING ASSIGNMENTS: Board member of Redigo GHG Invest AB.
HOLDINGS: 12 858 784 shares privately and through companies.
EXECUTIVE MANAGEMENT
- Håkan Sigfridsson
- Rolf Ljunggren
- Marko Amovic
- Thomas Lahti
- Patrik Nordström
- Sara Blomqvist
- Mats Gartz
- Gunilla Wennberg Berggren
Håkan Sigfridsson is an economist with focus in accounting and marketing. Håkan has been involved in Cortus Energy AB since March 2017 and employed since November 1, 2017. Håkan has long experience from executive positions in purchasing, after-market, production and company management, primarily within the defense group Saab AB.
Shareholdings as of 2019-12-31: 300 000 pcs
Founder of Cortus AB and innovator of Cortus technology – WoodRoll®. Education and work experience: Rolf Ljunggren has a MSc of Engineering at KTH Royal Institute of Technology. Rolf Ljunggren founded Cortus AB in 2006. He has long experience of leading roles at AGA, Uddeholm, Proceedo and Invenys.
Present commitments: Board member at Cortus AB, Cortus Engineering AB, Cortus Intressenter AB and Redigo GHG Invest AB.
Dependent in relation to the company, the corporate government and the Company’s major shareholders.
Shareholding: 11 902 148, whereof 5 408 487 are owned through company.
Marko has been employed by Cortus since 2011. Marko holds a Master of Science degree in Energy Technology from Umeå University. Marko has a solid experience and knowledge of gasification technologies, and especially in the WoodRoll® process after all his years as a process engineer and technical manager at Cortus Energy.
Thomas has been active in Cortus since 2006. Thomas has a long experience as an financial consultant with his own company. Moreover, Thomas has worked as a Financial Controller for several companies within the Invensys Group’s Nordic operations.
Patrik was hired in 2020 as a Site Manager in Höganäs. Patrik came previously from Nordkalk where he was Production Director for Scandinavia. Prior to that, Patrik has had leading positions in e.g. Imerys and Calderys where he worked both in Sweden and in the USA.
Sara Blomqvist has been employed by Cortus Energy since 2014. Sara has a master’s degree in chemical engineering from the Royal Institute of Technology. Through her years as a process engineer at Cortus, Sara has a broad experience of process and technology development and the WoodRoll® process in particular.
Mats Gartz was engaged in Cortus Energy AB as technical line manager in connection with strengthening Cortus’ technical organization. Mats is a Mining Engineer from KTH with a combination of specialist competence in steam and combustion technology as well as long experience in a leading position as line manager in technology and market.
Gunilla was hired by Cortus in the autumn of 2021 when the need for project management was great due to a growing interest from the market in Cortus products. Gunilla is a mechanical engineer from KTH with experience of growing companies from start-up to large companies in the energy industry. For Gunilla, the climate and the environment are in focus
OWNERS
| The largest shareholders 2023-01-31 | holdings |
| Source: Euroclear Sweden AB and information known to the company | |
| Försäkringsaktiebolaget, Avanza Pension | 162 599 576 |
| Per-Olov Norberg | 133 800 687 |
| Nordnet Pensionsförsäkring AB | 60 278 304 |
| P. Forssell Timber AB (varav 21 674 605 st via kapitalförsäkring) | 37 326 526 |
| Per Norberg, privat och genom bolag | 33 341 663 |
| Christer Jönsson | 24 500 000 |
| Ali Saftar | 20 261 584 |
| Joacim Larsson | 17 966 308 |
| Gunvald Berger | 13 369 439 |
| Rolf Ljunggren, privat och genom bolag | 12 858 784 |