Investors

Corporate Governance

Yhtiöjärjestys

1 § Toiminimi ja kotipaikka

Yhtiön toiminimi on Nexstim Oyj, ruotsiksi Nexstim Abp ja englanniksi Nexstim Plc. Yhtiön kotipaikka on Helsinki.

2 § Toimiala

Yhtiön toimiala on lääketieteellisten tutkimus-, hoito-, terapia- ja diagnostiikkavälineiden sekä näihin liittyvien oheislaitteiden ja ohjelmistojen kehittäminen, valmistaminen ja myynti. Yhtiö voi tarjota toimialaansa liittyviä palveluita ja harjoittaa toimialaansa liittyvää tutkimus- ja tuotekehitystoimintaa sekä lisensointitoimintaa. Yhtiö voi myös omistaa kiinteistöjä ja arvopapereita ja käydä niillä kauppaa.

Yhtiö voi harjoittaa toimintaansa suoraan taikka tytär- tai osakkuusyhtiöidensä välityksellä.

3 § Hallitus ja toimitusjohtaja

Hallitukseen kuuluu vähintään kolme (3) ja enintään yhdeksän (9) jäsentä. Hallituksen jäsenten toimikausi päättyy ensimmäisen vaalia seuraavan varsinaisen yhtiökokouksen päättyessä.

Yhtiökokous valitsee hallituksen puheenjohtajan ja hallituksen varapuheenjohtajan.

Yhtiöllä on toimitusjohtaja, jonka valitsee hallitus.

4 § Edustamisoikeus

Yhtiön edustamisoikeus on hallituksen puheenjohtajalla ja toimitusjohtajalla yksin ja hallituksen jäsenillä kaksi yhdessä sekä niillä henkilöillä kaksi yhdessä, joille hallitus on antanut edustamisoikeuden tai kullakin heistä yhdessä hallituksen puheenjohtajan, hallituksen jäsenen tai toimitusjohtajan kanssa.

Hallitus päättää edustamisoikeuksien ja prokuroiden antamisesta.

5 § Tilikausi

Yhtiön tilikausi on kalenterivuosi.

6 § Tilintarkastaja

Yhtiöllä on yksi (1) tilintarkastaja, jonka tulee olla Keskuskauppakamarin hyväksymä tilintarkastusyhteisö.

Tilintarkastajan toimikausi päättyy vaalia seuraavan varsinaisen yhtiökokouksen päättyessä.

7 § Kokouskutsu

Kutsu yhtiökokoukseen on toimitettava osakkeenomistajille julkaisemalla kutsu yhtiön internet-sivuilla tai muutoin todistettavasti aikaisintaan kolme (3) kuukautta ja viimeistään kolme (3) viikkoa ennen yhtiökokousta, mutta kuitenkin vähintään yhdeksän (9) päivää ennen osakeyhtiölaissa tarkoitettua yhtiökokouksen täsmäytyspäivää.

Jos hallitus niin päättää, osakkeenomistajan on saadakseen osallistua yhtiökokoukseen ilmoittauduttava yhtiölle. Osakkeenomistajan on ilmoittauduttava viimeistään kokouskutsussa mainittuna päivänä, joka voi olla aikaisintaan kymmenen (10) päivää ennen yhtiökokousta.

Yhtiökokous voidaan pitää Helsingin kaupungissa Suomessa tai Tukholman kaupungissa Ruotsissa.

8 § Varsinainen yhtiökokous

Varsinainen yhtiökokous on pidettävä vuosittain kuuden (6) kuukauden kuluessa yhtiön tilikauden päättymisestä lukien.

Kokouksessa on:

esitettävä:

  1. tilinpäätös, joka sisältää konsernitilinpäätöksen sekä toimintakertomus;
  2. tilintarkastuskertomus;

päätettävä:

  1. tilinpäätöksen vahvistamisesta;
  2. taseen osoittaman voiton käyttämisestä;
  3. vastuuvapaudesta hallituksen jäsenille ja toimitusjohtajalle;
  4. hallituksen jäsenten ja tilintarkastajien palkkioista;
  5. hallituksen jäsenten lukumäärästä;

valittava:

  1. hallituksen puheenjohtaja ja jäsenet; sekä
  2. tilintarkastaja.

Jos yhtiökokouksissa suoritetaan äänestys, äänestystavan määrää yhtiökokouksen puheenjohtaja.

9 § Arvo-osuusjärjestelmä

Yhtiön osakkeet kuuluvat arvo-osuusjärjestelmään ilmoittautumisajan päättymisen jälkeen.

Articles of association

The following is an unofficial translation of the articles of association in Finnish. Only the Finnish-language will be registered with the Finnish Trade Register. In case of discrepancies between the Finnish-language original and the English-language translation, the Finnish-language text shall prevail.

1 § Registered name and domicile

The registered name of the company is Nexstim Oyj, in Swedish Nexstim Abp and in English Nexstim Plc. The domicile of the company is Helsinki.

2 § Line of business

The line of business of the company is the development, production and sales of appliances for medical examinations, treatment, therapy and diagnostics as well as accessories and software relating thereto. The company may offer services relating to its line of business, and may also carry out research and development activities as well as licensing activities relating to its line of business. The company may also engage in the holding and trade of real property and securities.

The company may conduct its business directly on its own or through subsidiaries or associated companies.

3 § Board of directors and the managing director

The board of directors comprises no fewer than three (3) and no more than nine (9) members. The term of office of each member of the board of directors ends at the adjournment of the first annual general meeting of shareholders following the election.

The general meeting of shareholders elects the chairman of the board of directors and the deputy chairman.

The company shall have a managing director. The managing director is elected by the board of directors.

4 § Representation rights

The Company may be represented by the chairman of the Board of Directors or the managing director, each individually, or by the members of the Board of Directors, two together, as well as persons to whom the Board of Directors has granted representation rights either two together or each one of them together with a chairman of the Board of Directors, a member of the Board of Directors or the managing director.

The Board of Directors may resolve on the issue of the representation rights and procuration rights

5 § Financial period

The financial period of the company is the calendar year.

6 § Auditor

The company has one (1) auditor, which must be an auditing firm certified by the Finland Chamber of Commerce.

The term of office of the auditor ends at the adjournment of the annual general meeting of shareholders first following the election.

7 § Notice to convene a general meeting of shareholders

The notice to convene a general meeting of shareholders must be delivered to the shareholders by publishing the notice on the website of the company or otherwise in a verifiable manner no more than three (3) months and no less than three (3) weeks prior to the general meeting of shareholders, however, in any case, at least nine (9) days prior to the record date of the general meeting of shareholders pursuant to the Finnish Companies Act.

Where the board of directors so decides, a shareholder must register with the company in order to participate in the general meeting of shareholders. In such case, shareholders must register no later than on the date referred to in the notice convening the meeting, which date may be at the earliest ten (10) days prior to the general meeting of shareholders.

General meetings may held in the City of Helsinki, Finland or the City of Stockholm, Sweden.

8 § Annual general meeting of shareholders

The annual general meeting of shareholders shall be held each year within six (6) months from the end of the financial period of the company.

The meeting shall:

be presented with:

  1. the financial statements, which include the consolidated financial statements, and the report of the board of directors;
  2. the auditor's report;

resolve upon:

  1. the adoption of the financial statements;
  2. the use of profits shown on the balance sheet;
  3. the discharge of members of the board of directors and the managing director from liability;
  4. the remuneration of the members of the board of directors and the auditor;
  5. the number of the members of board of directors;

elect:

  1. the chairman and members of the board of directors, and
  2. the auditor.

If a vote is held at the general meeting of shareholders, the chairman of the general meeting of shareholders shall determine the voting procedures.

9 § Book-entry system

The shares in the company shall be entered into the book-entry securities system after the end of the notification period.

Disclosure policy of Nexstim Plc

Applicable rules

In its communications, Nexstim Plc ("Nexstim") complies with the Finnish and EU legislation, such as the EU Market Abuse Regulation ("MAR"), Nasdaq First North Nordic Growth Market Rulebook, the regulations and guidelines of the Finnish Financial Supervisory Authority ("FIN-FSA"). The disclosure policy is approved by the Board of Directors, reviewed periodically, and revised when necessary.

Disclosure principles

The CEO is responsible for Nexstim's disclosures.

Nexstim is committed to correct and timely disclosure, which is consistent, accurate and balanced, and gives a true and fair view of Nexstim’s financial position and operations.

Nexstim regularly discloses financial information in its yearly financial statements, annual reports and half-yearly reports according to a preannounced schedule.

Nexstim discloses as soon as possible all information related to it or to its financial instruments that might have a significant effect on the prices of the said financial instruments, and thus is potentially price sensitive in nature. In accordance with the provisions of MAR, Nexstim can delay the public disclosure of inside information, provided that all the below conditions are met:

(i)    immediate disclosure is likely to prejudice the legitimate interest of Nexstim,

(ii)    delay of disclosure is not likely to mislead the public; and

(iii)    Nexstim is able to ensure the confidentiality of that information.

The decision to delay the disclosure of inside information is made and recorded by the Board of Directors, the CEO, the CFO or the Vice President of Legal Affairs of Nexstim. In the event of delayed disclosure, Nexstim notifies the FIN-FSA of the delay immediately after the inside information has been published.

The management of Nexstim assesses independently whether information is significant to the price of the company's share. This assessment is based on the expected extent and importance of the decision, fact or circumstance on Nexstim's activities as a whole. Information will be considered to have a significant effect on the price of the share if a reasonable investor would be likely to use that information as part of the basis of his or her investment decisions.

Information pertaining to the following matters is always considered significant:

-    material developments in clinical trials, including starting a new trial, material findings, reaching a milestone of a trial, ending a trial, and final results of a trial;

-    material developments regarding authorisations, such as the granting or refusal of an authorisation or an authorisation being revoked;

-    material events in relation to the commercialisation process of the company's products, such as gaining a reimbursement code for a treatment made with the company's device;

-    material joint venture and commercialisation agreements;

-    material acquisitions and financing transactions;

-    significant co-operation agreements;

-    share priced incentive programs;

-    major restructuring.

Manner of disclosure

Nexstim publishes information as company announcements. Company announcements will be published simultaneously on Nasdaq First North Growth Market Helsinki, Nasdaq First North Growth Market Stockholm and Nexstim's website. Any changes to published information will be published in the same manner as the original disclosure. All published information will be kept available for at least 5 years from the date of publication. Nexstim publishes information in Finnish, English and Swedish.

Silent period

Nexstim adheres to a 21- calendar day silent period prior to the publication of its half-yearly reports and financial statement releases. During the silent period, Nexstim does not organise investor meetings or attend private meetings with the media, analysts or investors. However, even during the silent period, Nexstim discloses without delay information, that is subject to timely disclosure according to applicable regulation.

Managers' transactions

Members of the Board of Directors and the Management Team of Nexstim, as well as certain other persons defined by the Vice President, Legal Affairs, and persons closely associated with them are obliged to notify Nexstim and the FIN-FSA of transactions conducted in Nexstim's financial instruments or any related instruments within three business days after the date of the transaction. Nexstim publishes the notifications it has received within the aforementioned three business day period. 

In addition, the MAR and Nexstim's Insider Rules prohibit such persons under the notification obligation and persons closely associated to them, such as spouses and other persons living in the same household, from trading with Nexstim's financial instruments or any related instruments during a 30- calendar day closed window period prior to the publication of its half-yearly reports and financial statement releases, the day of the disclosure and one working day following such release.

Rumours

As a rule, Nexstim does not comment on market rumours, the price of its shares, actions of competitors or customers, analyst estimates, or confidential or unfinished business transactions unless Nexstim considers it necessary. However, if a rumor might have or has a significant effect on the prices of the financial instrument, Nexstim will respond timely and publish a company release to correct the market information. In case inside information has by accident been selectively disclosed, Nexstim discloses the proper and accurate information as soon as possible.

Board of Directors of Nexstim Plc

30 March, 2022

Information and contact details to the Certified Adviser

Erik Penser Bank AB
Apelbergsgatan 27, 103 91 Stockholm

Auditors

Pricewaterhousecoopers Oy, Itämerentori 2, 00180 Helsinki, Finland, Auditor in charge: Enel Sintonen

Code of Conduct and Whistleblowing

Nexstim's Code of Conduct can be found here in English and here in Finnish.

Nexstim has a whistleblowing channel in place. We encourage our employees, business partners and other stakeholders to report the matter if they suspect that someone is violating the law or Nexstim’s ethical principles. To submit an anonymous message, please enter here (in English) or here (in Finnish/suomeksi).