Corporate governance

Corporate governance
Corporate governance refers to the framework and structure established to manage and direct the activities of a limited liability company in an effective and controlled manner. Ultimately, corporate governance aims to fulfil shareholders‘ requirements for returns and all stakeholders’ need for information about the company and its development. Astor’s corporate governance is based on the Swedish Companies Act, the Articles of Association, the rules of NGM Nordic SME and internal rules and regulations.

The Swedish Corporate Governance Code
The Swedish Corporate Governance Code (the ‘Code’) shall be applied by companies whose shares are admitted to trading on a regulated market. Astor is not formally subject to the Code and the company’s Board of Directors has currently chosen not to apply the Code. However, we endeavour to comply with the Code in those respects that are relevant to the company with regard to the business conducted.

General Meeting, In accordance with the Swedish Companies Act, the shareholders’ influence in the company is exercised at the general meeting, which is the company’s highest decision-making body. At the General Meeting, the shareholders decide on key issues, such as amending the Articles of Association, adopting the income statement and balance sheet, any dividends and other dispositions of the company’s profits, electing Board members and auditors and deciding on their remuneration, and discharging the Board of Directors and the CEO from liability.

Auditor

At the Annual General Meeting on 17 May 2024, the registered accounting firm BDO Mälardalen AB (BDO) was elected as the Company’s auditor with the authorised public accountant Beata Linhammar as principal auditor.

Group structure
The group is divided into two business areas: Astor Industry and Astor Tech, which target several large industrial segments. Within Astor Industry, the companies act as a subcontractor of components to large companies in the defence industry but also other large industries. Astor Tech supplies advanced systems and products aimed exclusively at the defence and security industry through framework or agency agreements, mainly to public authorities.