Paradox is a Swedish public limited liability company and is governed based on Swedish law and internal rules and regulations. Ahead of the IPO on First North Premier, the corporate governance practice was adapted to the Swedish Corporate Governance Code.
The code is applicable for Swedish companies with shares listed on a regulated market in Sweden. Nasdaq First North Premier is not a regulated market, why Paradox is applying the code on a voluntary basis. Companies must not comply with all rules in the code, and has the option to apply alternative solutions believed to better fit their purposes, as long as any discrepancies are reported and the alternative solution is described and reasons behind it explained (the principle of ”comply or explain”) in the corporate governance report.
Any discrepancies from the code are reported in the company’s corporate governance report, which was released for the first time in connection with the 2016 Annual Report.