SolTech is a Swedish public (limited liability) stock company. The company is formed in Sweden and registered with Bolagsverket (the Swedish Office for Company Registration) 2006-08-30 and has been conducting its business operation ever since that date. The Company adheres to the regulations of the Swedish Companies Act’s (2005:551), along with other relevant laws and ordnances in Stockholm, Sweden, where the Company is headquartered.
The basis of the Company’s business operation rests in the Company’s articles of incorporation. The purpose of the Company’s operation is the development and sale of alternative and renewable energy sources, along with the development of systems that expand the overall viability and use of alternative and renewable energy sources; and, in this connection, find a suitably compatible and complementary business concern to join in this mission, which is further clarified in the company’s by-laws § 3.
The annual general meeting of shareholders ratifies the company’s by-laws and annually appoints the Board of Directors. The Board is responsible for the Company’s organization and administration, and appoints or removes the Chief Executive Officer. The Board annually ratifies a written formal work plan for itself, combined with a CEO-instruction specifying the division of work between the Board and the Chief Executive Officer. Questions relating to remunerations or accounting are settled directly by the Company’s Board of Directors. All members of the Board are chosen to take their seats at the next annual general meeting of shareholders. Every individual member of the Board has the right to retire – at any time –from his assignment.