Swedish companies whose shares are admitted to trading on a regulated market (such as NASDAQ OMX Stockholm) shall apply the Corporate Governance Code. The Corporate Governance Code is based on the principle of "comply or explain", meaning that a company may deviate from the provisions set forth therein, provided that each such deviation is properly explained.

Transmode applies the Swedish Code of Corporate Governance with the following exception.

Transmode deviates from the Code's provision that a board member should not be chairman of the committee. The reason that the company differs from the Code is that the Nominating Committee believes that participation in the Nominating Committee is a central part in the exercise of ownership, therefore it is considered natural that the representative from the largest shareholder is also Chairman of the Nominating Committee.

For more information on the Corporate Governance Code, please see Bolagsstyrning.