Corporate Governance

Administration

The administration of Bilot is divided between shareholders’ meetings, the Board of Directors and the CEO in accordance with the Finnish Limited Liability Companies Act and the Articles of Association. 

Shareholders participate in the administration and supervision of the company through decisions taken at general meetings. Shareholders’ meetings are convened by the Board of Directors. Additionally, shareholders’ meetings shall be held if the company’s auditor or shareholders whose combined shares comprise at least one-tenth of all the shares in the company require it in writing for a specific case.

Shareholders’ meetings decide on matters stipulated to be under their authority by the Limited Liability Companies Act. In addition, the company’s activities are regulated by the Articles of Association and the Board of Directors’ working order.

The company does not follow the Corporate Governance Code published by the Securities Market Association, as it has been established to have no basis when considering the size of the company and the extent of its business activities.

Board of Directors

The Board of Directors has overall responsibility for adequately arranging the management and activities of the company. The board directs and supervises the company’s senior management, appoints and removes the CEO and approves significant decisions regarding company strategy, investment, organisational changes, management bonus schemes and financing.

Bilot’s Articles of Association stipulate that the Board of Directors shall consist of no less than three and no more than eight permanent members. The terms of office of board members end when the next Annual General Meeting following their appointment closes.

The CEO and the Group’s Management Team

The company has a CEO who is appointed and removed by the board of directors. The CEO is responsible for implementing the company’s strategy and managing the operational matters of the company in accordance with the instructions and orders given by the board of directors.

In addition to the CEO, the group’s management team consists of the CFO, the Sales and Marketing Director, the Head of Culture and People Operations and the Business Managers. The group’s Management Team is responsible for, among other things, ensuring that the company maintains a strategic competitive advantage by developing business activities and producing support services.



Important information

You must read the following before continuing. The following applies to the information following this page, and you are therefore advised to carefully read and approve the following before reading, accessing or making any other use of the following information.

Bilot Oyj’s IPO shall be governed by the laws of Finland. No action has been taken, except solely in Finland, in order to register the shares or the IPO or for the general offering of shares.

The shares may not be, directly or indirectly, offered, sold, resold, transferred or delivered in such countries or jurisdictions or otherwise in such circumstances in which it would be unlawful or require measures other than those required under Finnish laws including the United States of America, Australia, Canada, Hong Kong, Japan, Singapore and South Africa. The documents on this site or the company description in accordance with the First North rules may not be delivered to persons in the above-mentioned countries and must not be copied in any way whatsoever. The company requires that the respective persons inform themselves of and observe all such restrictions. The company or the company’s representatives do not have any kind of legal responsibility for such violations whether or not such restrictions were known to prospective investors. The company reserves the right to, in its sole discretion reject any type of share subscription, which the company believes would cause the violation or breach of legislation, rule or regulation.

The shares of the Company have not been and will not be registered in accordance with the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

In order to access the information related to the IPO, you must approve the following:

(i) I have carefully read and understood the instructions and restrictions described above and I approve that they are applicable to me.

(ii) I am not resident of United States, Australia, Canada, Hong Kong, Japan, Singapore or South Africa and I am currently not in these countries.

(iii) If I am resident of any other country than Finland or if I am currently in any other country than in Finland, I have obtained the necessary information about the restrictions applicable to the delivery of this information and my participation in the IPO and I approve that they are applicable to me.