The Board of Directors is the highest decision-making body in the Company subject only to the general meeting of shareholders. According to the Companies Act, the Board is responsible for the management and organization of the Company. The Board shall continuously assess the Company’s financial situation and ensure that the Company’s organization is designed in such a way that the accounting, management of funds, and the company’s financial circumstances otherwise are controlled in a satisfactory way. Furthermore, the Board shall establish the overarching goals for the Company’s business activities and decide on the Company’s strategy to achieve the goals as well as continuously evaluate the management of the Company. The Board is also responsible for ensuring that the Company’s financial statements are prepared at the correct time. Furthermore, the Board appoints the CEO.
The Board of Directors works in accordance with a written work procedure that is revised annually and which as a rule is established at the initial board meeting following election every year. The work procedure regulates, among other things, functions and allocation of work between the Board and the CEO. At the initial board meeting, the Board also adopts the guidelines for the CEO including instructions for financial statements and delegation, attestation and payment instructions. The Board meets according to a set timetable. In addition to these meetings, additional board meetings may be held to deal with matters that cannot be referred to an ordinary board meeting.
CEO and senior executives
The CEO reports to the Board and is responsible according to the Companies Act for the ongoing management of the Company and its day-to-day activities. The allocation of work between the Board and the CEO is stated in the work procedure for the Board and the CEO’s instructions. The management of tbd30 shall ensure that the Company complies with all of the rules for listed companies. All decisions to recommend investment to the general meeting of shareholders are made by the Board, and all independent board members must have voted in favour of an investment. Tbd30 is a company with the sole purpose of identifying and acquiring a target company. This is why the Company only has three employees, the CEO, CFO and a part-time financial assistant.