Board Committees
Terms of Reference
In order to increase the efficiency of its work and enable a more detailed analysis of Company issues, the Board has formed three (3) committees: Audit Committee, Remuneration Committee, and Reserves/HSE Committee. Committee members are appointed by the Board and consist of current Board members. The committee members serve for the year between the Annual General Meetings.
Board of Directors
The Board is responsible for the strategy and organisation of Maha and its affairs. The Board shall regularly assess Maha’s and the Group’s financial position and ensure that its organisation is formed in such manner that accounting, management of funds and Maha’s and the Group’s finances in general, are monitored in a satisfactory manner.
The Board shall furthermore provide written instructions regarding when and in which manner such information required for the Board’s assessment shall be compiled and reported to the Board and establish instructions regarding the allocation of work between the Board and the managing director and other organs established by the Board.
Remuneration Committee
To assist the Board in matters of remuneration, the Board established a Remuneration Committee consisting of at least three members. The work of the Remuneration Committee is governed by established rules of procedures that have been set by the Board of Directors. The Remuneration Committee is a preparatory function and it is the Board of Directors that make the final decisions in relation to compensation and remuneration matters.
Audit Committee
The Audit Committee is a supervisory body within the Board of Maha. The Audit Committee shall ensure compliance with the Board’s monitoring responsibilities pertaining to satisfactory control of risk handling, financial audits and reporting.
The Audit Committee shall thereby, in particular, contribute to sound and regular financial reporting to ensure the market’s trust in Maha. The Audit Committee shall furthermore ensure, where deemed appropriate, qualified, efficient and independent external audits of Maha. The Audit Committee shall also ensure that good communication is maintained between the Board and the external auditor(s).
Reserves & HSE Committee
The Reserves & HSE Committee is responsible for the following functions:
- assist the Board in fulfilling its oversight responsibilities generally with respect to the oil and natural gas reserves evaluation process of the Corporation and public disclosure of reserves data and related information in connection with the Corporation's oil and gas activities
- developing, implementing and monitoring policies, standards and practices of the Company with respect to matters concerning health, safety and environment, including public disclosures
Audit Committee
Harald
Pousette*
Harald Pousette
Born 1965
Bachelor of Arts (Economics)
Member of the Board of Directors since June 2017 and Chairman since May 2020.
Other assignments: Chairman of Green Deer Holding AB, Norrfordon Holding AB, Bil Dahl AB and Jitech AB. Board member of Bil- och Traktorservice i Stigtomta AB, Stig Svenssons Motorverkstad AB and companies in the Kvalitena Group.
Previous assignments: CFO, Kvalitena AB. Managing Director, The Collins Group. Vice President, Dresdner Kleinwort Wasserstein. Sales trader and portfolio manager, Nordiska Fondkommision. Foreign exchange and fixed income trader, Gota Bank. Board member of Scandi Standard AB.
Experience: Mr. Pousette holds an Bachelor of Arts (Economics) from Uppsala University in Sweden. Mr. Pousette have years of experience from Investment Banking and Real Estate as well as Corporate management and Business development.
Independent of the Company and the senior management: Yes.
Independent of major shareholders: No.
Shareholding in Maha Energy AB: 819,142
Warrants in Maha Energy AB: 445,000
Member of Audit Committee
Member of Remuneration Committee
Anders
Ehrenblad
Anders Ehrenblad
Born 1965
MBA
Member of the Board of Directors since 2013 and Chairman between May 2019 and May 2020.
Other assignments: Investment Manager and Partner of Graviton AB, Board Member of RF Coverage AB, AB PiaCare and Maven Wireless AB.
Prior assignments (last five years): Board Member of Expert Eleven AB and Graviton AB
Experience: Mr. Ehrenblad holds a Masters of Science in Business Administration from University of Uppsala, Sweden. Mr. Ehrenblad works in investment, financial and management consulting and has broad experience from various private companies including Investment Manager and partner of Graviton AB, Board Member of RF Coverage AB, AB PiaCare and Maven Wireless AB.
Independent of the Company and the senior management: No.
Independent of major shareholders: Yes.
Shareholding in Maha Energy AB: 478,607
Member of Audit Committee
Member of Remuneration Committee
Seth
Lieberman
Seth Lieberman
Born 1961
Bachelor of Arts (Economics)
Member of the Board of Directors since May 2020.
Other assignments: Seth Lieberman is a member of EQT Real Estate Funds I & II Investment Advisory Committee and Board Member of Stendörren Fastigheter AB (publ.). Seth Lieberman is the Chairman of Kvalitena AB (publ) and a number of its’ subsidiaries, including Choki AB (Huski Chocolate owner) and Svenskt Industrifly.
Previous assignments: He has held senior roles at Advanced Capital’s Real Estate Fund, UBS Investment Bank, Hypo Real Estate, Lehman Brothers, Credit Suisse and GE Capital.
Experience: Seth Lieberman, born 1961 and a resident of United Kingdom, obtained a Bachelor of Arts in Economics (cum laude) from Tuft University, USA. Seth Lieberman is a seasoned veteran within the international real estate sector, particularly in his native USA and Europe. He also has broad experience structuring and providing public and private debt & equity capital for transactions.
Independent of the Company and the senior management: Yes.
Independent of major shareholders: No.
Shareholding in Maha Energy AB: 133,333
Options in Maha Energy AB: 89,000
Member of the Audit Committee
Member of Remuneration Committee
Fredrik
Cappelen
Fredrik Cappelen
Born 1962
Bachelor of Arts (Business)
Member of the Board of Directors since May 2020.
Other assignments: He is currently the managing director and majority shareholder of M25 Industrier AS and Stella AS. Fredrik Cappelen is Director of Sikri Holding AS, Proxll AS and Proterm AS.
Previous assignments: Prior work experience includes Head of Sales at Arctic Securities AS, before which he held several senior management positions at SEB, including Head of Sales and Head of Corporate Finance in Norway.
Experience: Fredrik Cappelen, born 1962, and a resident of Norway, obtained his Bachelor of Arts in Business from Regents University in the United Kingdom. Fredrik Cappelen has a long history within Equity Capital Markets specially within the oil- and gas business.
Independent of the Company and the senior management: Yes.
Independent of major shareholders: Yes.
Shareholding in Maha Energy AB: 0
Member of the Audit Committee
Member of the Reserves and HSE Committee
Remuneration Committee
Anders
Ehrenblad*
Anders Ehrenblad
Born 1965
MBA
Member of the Board of Directors since 2013 and Chairman between May 2019 and May 2020.
Other assignments: Investment Manager and Partner of Graviton AB, Board Member of RF Coverage AB, AB PiaCare and Maven Wireless AB.
Prior assignments (last five years): Board Member of Expert Eleven AB and Graviton AB
Experience: Mr. Ehrenblad holds a Masters of Science in Business Administration from University of Uppsala, Sweden. Mr. Ehrenblad works in investment, financial and management consulting and has broad experience from various private companies including Investment Manager and partner of Graviton AB, Board Member of RF Coverage AB, AB PiaCare and Maven Wireless AB.
Independent of the Company and the senior management: No.
Independent of major shareholders: Yes.
Shareholding in Maha Energy AB: 478,607
Member of Audit Committee
Member of Remuneration Committee
Nicholas
Walker
Nicholas Walker
Born 1962
BSc (Honors) Mining
Member of the Board of Directors since May 2019
Other assignments: Chief Operating Officer, Lundin Energy AB
Prior assignments (last five years): Chief Operating Officer, Africa Oil Corp.
Experience: Mr. Walker holds a BSc in Mining Engineering from Imperial College London, an MSc in Computer Science from University College London as well as an MBA from City University Business School in London. He has over 30 years of international experience in the upstream oil and gas industry in senior executive/management positions across Europe, Africa, Asia and the Americas including Bow Valley Energy Inc., Talisman Energy Inc. and Africa Oil Corp. Mr Walker is the COO for Lundin Energy AB.
Independent of the Company and the senior management: Yes.
.Independent of major shareholders: Yes.
Shareholding in Maha Energy AB: 464,211
Member of Remuneration Committee
Member of the Reserves and HSE Committee
Seth
Lieberman
Seth Lieberman
Born 1961
Bachelor of Arts (Economics)
Member of the Board of Directors since May 2020.
Other assignments: Seth Lieberman is a member of EQT Real Estate Funds I & II Investment Advisory Committee and Board Member of Stendörren Fastigheter AB (publ.). Seth Lieberman is the Chairman of Kvalitena AB (publ) and a number of its’ subsidiaries, including Choki AB (Huski Chocolate owner) and Svenskt Industrifly.
Previous assignments: He has held senior roles at Advanced Capital’s Real Estate Fund, UBS Investment Bank, Hypo Real Estate, Lehman Brothers, Credit Suisse and GE Capital.
Experience: Seth Lieberman, born 1961 and a resident of United Kingdom, obtained a Bachelor of Arts in Economics (cum laude) from Tuft University, USA. Seth Lieberman is a seasoned veteran within the international real estate sector, particularly in his native USA and Europe. He also has broad experience structuring and providing public and private debt & equity capital for transactions.
Independent of the Company and the senior management: Yes.
Independent of major shareholders: No.
Shareholding in Maha Energy AB: 133,333
Options in Maha Energy AB: 89,000
Member of the Audit Committee
Member of Remuneration Committee
Reserves & HSE Committee
Nicholas
Walker*
Nicholas Walker
Born 1962
BSc (Honors) Mining
Member of the Board of Directors since May 2019
Other assignments: Chief Operating Officer, Lundin Energy AB
Prior assignments (last five years): Chief Operating Officer, Africa Oil Corp.
Experience: Mr. Walker holds a BSc in Mining Engineering from Imperial College London, an MSc in Computer Science from University College London as well as an MBA from City University Business School in London. He has over 30 years of international experience in the upstream oil and gas industry in senior executive/management positions across Europe, Africa, Asia and the Americas including Bow Valley Energy Inc., Talisman Energy Inc. and Africa Oil Corp. Mr Walker is the COO for Lundin Energy AB.
Independent of the Company and the senior management: Yes.
Independent of major shareholders: Yes.
Shareholding in Maha Energy AB: 464,211
Member of Remuneration Committee
Member of the Reserves and HSE Committee
Jonas
Lindvall
Jonas Lindvall
Born 1967
B. Sc P. Eng., MEB
Chief Executive Officer since 2016
Member of the Board of Directors since 2013 and Managing Director since 2016.
Other assignments: None.
Prior assignments (last five years): Not applicable.
Experience: Mr. Lindvall holds a B. Sc. in Petroleum Engineering and a Master Degree in Energy Business, both from the University of Tulsa, USA. He is a seasoned senior executive with 25 years of international experience in the upstream oil and gas industry across Europe, North America, Africa and Asia. He has five years experience as Sr. Drilling Manager at Talisman Energy, four years experience as Managing Director of Tethys Oil AB (publ) Oman subsidiary, two years experience with Shell Oil and eight years experience with Lundin Oil.
Independent of the Company and the senior management: No.
Independent of major shareholders: No.
Shareholding in Maha Energy AB: 4,761,147*
Warrants in Maha Energy AB: 195,000
Member of the Reserves and HSE Committee
*Includes 30,000 shares on loan to Penser Bank
Fredrik
Cappelen
Fredrik Cappelen
Born 1962
Bachelor of Arts (Business)
Member of the Board of Directors since May 2020.
Other assignments: He is currently the managing director and majority shareholder of M25 Industrier AS and Stella AS. Fredrik Cappelen is Director of Sikri Holding AS, Proxll AS and Proterm AS.
Previous assignments: Prior work experience includes Head of Sales at Arctic Securities AS, before which he held several senior management positions at SEB, including Head of Sales and Head of Corporate Finance in Norway.
Experience: Fredrik Cappelen, born 1962, and a resident of Norway, obtained his Bachelor of Arts in Business from Regents University in the United Kingdom. Fredrik Cappelen has a long history within Equity Capital Markets specially within the oil- and gas business.
Independent of the Company and the senior management: Yes.
Independent of major shareholders: Yes.
Shareholding in Maha Energy AB: 0
Member of the Audit Committee
Member of the Reserves and HSE Committee