Carlsberg aims to maintain an appropriate corporate  governance framework to ensure active, reliable and  profitable business management across the Group. Carlsberg’s Supervisory Board and Executive  Board constantly strive to ensure that the  Group’s management structure and control  systems are appropriate and work satisfac- torily. A number of internal procedures have  been developed and are regularly updated in  order to ensure active, reliable and profitable  business management. for issuers of shares. These recommendations  were last amended in May 2013 and can be  found online 1 .  As in other European countries, companies  must either comply with the recommenda- tions or explain any deviation.  The Supervisory Board actively uses the  corporate governance recommendations in rel- evant areas to optimise the way it works, and  Carlsberg complies with all recommendations.  The basis of the Group’s corporate govern- ance includes the Danish Companies Act, the  Danish Financial Statements Act, IFRS, the  Danish Securities Trading Act, NASDAQ OMX  Copenhagen A/S’s rules for issuers of shares,  and the Company’s Articles of Association.  The recommendations of the Danish Com- mittee on Corporate Governance form part of NASDAQ OMX Copenhagen A/S’s rules  Carlsberg’s statutory report on corporate  governance includes a full list of the recom- mendations of the Committee on Corporate  Governance, together with Carlsberg’s com- ments with regard to each recommendation;  see www.carlsberggroup.com/Company/  Governance/Pages/UKrecommendations. aspx. The General Meeting is the Company’s  supreme governing body. The Supervisory  Board believes that it is important that  shareholders receive detailed information and  are provided with an adequate basis for the  decisions to be made at the General Meeting. According to the authorisation of the Gen- eral Meeting, the Supervisory Board may,  in the period until 24 March 2015, allow the  Company to acquire treasury shares up to  a total holding of 10% of the nominal share  capital at the price quoted on NASDAQ OMX  Copenhagen at the time of acquisition with a  deviation of up to 10%.  Minutes of the General Meeting are made  available on the Company’s website no later  than two weeks after the meeting. Carlsberg’s share capital is divided into two  classes. All shares have the same nomi- nal value (DKK 20). An A share carries 20  votes, while a B share carries two votes and  is entitled to a preferential dividend. Both  classes of shares are listed on NASDAQ OMX  Copenhagen. The Supervisory Board believes  that the different share classes, combined  with the Carlsberg Foundation’s position as  principal shareholder, have been and will re- main advantageous for all of the Company’s  shareholders as this structure supports the  long-term development of the business.  Any shareholder who has the right to attend  the General Meeting may give proxy to the  Supervisory Board or to somebody else  attending the General Meeting for each indi- vidual item on the agenda or vote by letter as set out in the notice of the General Meeting. Notice of a General Meeting is published at  least three weeks prior to the meeting and is sent to all shareholders who have provided  an e-mail address. In 2013, the Company  sent notices to shareholders who had re- quested to be notified of General Meetings  by ordinary mail, but at the same time  informed the shareholders that this service  would be discontinued after the Annual General Meeting in 2013, as already provided  for in the Articles of Association. All share- holders who own shares one week before  the General Meeting are entitled to partici- pate in and vote at the General Meeting,  provided they have requested an admission  card no later than three days before the  meeting. Any shareholder is also entitled to  put forward proposals for consideration at  the Annual General Meeting to the Super- visory Board no later than six weeks before  the date of the meeting.  The Supervisory Board regularly assesses  whether the Company’s capital structure  fulfils the interests of the Group and its  shareholders. The overall goal is to ensure  a capital structure that supports long-term  profitable growth and value creation. The  Company’s Articles of Association contain no limits on ownership or voting rights. Carlsberg aims to provide information and  opportunities for dialogue to its shareholders  through regular publication of news, interim  reports and annual reports, and at General  Meetings. The Company’s website is continu- ously updated with published information.  Regular teleconferences, conferences and  meetings are also arranged with investors. SHAREHOLDERS AND CAPITAL  STRUCTURE RECOMMENDATIONS ON CORPORATE  GOVERNANCE  THE GENERAL MEETING Carlsberg Group Annual Report 2013 1 www.corporategovernance.dk/file/371640/commitee_on_corporate_governance_recommendations_on_corporate_governance.pdf 36 Management review CORPORATE GOVERNANCE