of Athena Investments A/S

See our policies

Remuneration Policy

Athena’s remuneration policy is based on the ability to attract and retain the critical competences which are a prerequisite for the Company’s success.

At the annual general meeting of Athena held on 23 April 2008 the shareholders approved the general guidelines for incentive pay to the Board of Directors and the Management Board.

The guidelines for incentive pay are available in an English and a Danish version (see below).

Communication Policy

Through its communication initiatives, Athena Investments A/S wishes to give a true and fair view of the Group’s results and activities and to ensure that its decisions and transactions are accepted and understood.

Athena Investments A/S communicates to create transparency and openness in matters relating to the Group’s stakeholders.

In its communication efforts, the Group is restricted by competitive factors.

Constructive interaction with the media is one of the tools the Group employs in its communications. This also includes fast responses from the Group spokespersons to media queries.

Information material such as websites and presentations is prepared to inform the Group’s stakeholders about relevant activities.

The Group also employs a centralised knowledge-sharing strategy at management-reporting level and with respect to other general intra-group information. Through in-house information sharing in the Group’s various subsidiaries, we ensure that Group employees are regularly informed about activities and strategies pursued in the Group and their particular company.

IR Policy

Athena Investments A/S has defined its IR policy in accordance with the disclosure requirements for issuers on the NASDAQ Copenhagen.

With its IR policy, Athena Investments A/S intends to:
  • > ensure equal treatment for all market players;
  • > ensure that the Company’s value creation is reflected, to the greatest possible extent, in the current share price;
  • > create in-depth knowledge about the Company and thereby increase interest in trading in the Company’s shares.


Athena Investments A/S intends to arrange information meetings at appropriate intervals for shareholders, investors and analysts. However, there is a requirement that such meetings may not be held for a period of four weeks before scheduled announcements of financial results.
All information sent to the NASDAQ Copenhagen will immediately afterwards be available on the Company’s website and will be included in the Group’s newsletter, which is submitted by e-mail to subscribers.
Athena Investments A/S has appointed a person in charge of IR to act as contact person for all stakeholders. Questions will be answered to the extent possible and provided that such answers do not involve the disclosure of inside information or are detrimental to the Company.

Stakeholder Policy

What is a stakeholder policy?
A stakeholder policy regulates how and the extent to which a company wishes to interact with its stakeholders within the framework of the law.

Why does Athena Investments A/S have a stakeholder policy?
The Group’s stakeholder policy is a key component of its communications policy.
Optimising stakeholder relations serves the Group’s best interests, and good relations help Athena Investments A/S attract investors, collaboration partners and employees, thus creating value for the Company in the short and long term.

Basis for stakeholder policy
Our stakeholder policy is based on the Group’s business concept.
The business concept of the Athena Investments Group is founded on the Company’s capacity as an energy company that operates wind farms and solar plants, with specific core competencies divided into four key parameters to ensure that the Group is able to accommodate industry demand and requirements.
These four parameters are:
  1. Project evaluation
  2. Management of development processes
  3. Attainment of optimum financing models
  4. Retention of existing collaboration partners

Project evaluation is associated especially with the Group’s ability to analyse projects at an early stage in order to optimise resources for use in feasible and profitable wind turbine projects.
The management of development processes is associated especially with the Group’s ability to stringently manage the project development process, which is often affected by outside factors such as the political environment, financing conditions and the supplier situation.
The attainment of optimum financing solutions is associated especially with the Group’s ability to create innovative/alternative financing models.
The retention of external collaboration partners is associated especially with the Group’s ability to consistently retain and develop close collaborations with local and competent business partners with knowledge in fields such as wind, turbine production and project development.

In the following, we describe our relations with some of the Group’s key stakeholders:

Athena Investments A/S aims to pursue an active IR policy with a high level of information and sound investor relations. The IR policy adopted by the Board of Directors and contact details for the Company’s IR manager are available elsewhere on this website. The Company’s active IR policy is reflected in frequent and direct communications on our website and electronic newsletters.

Collaboration partners
Athena Investments A/S aims to maintain transparent business procedures and a clear division of responsibilities. This is characteristic of the Company’s relationships with its collaborators. The Company aims to maintain close collaborations featuring continuous communication and adjust business partner relationships to reflect current needs.

Society, authorities and the media
Athena Investments A/S aims to maintain an open and constructive relationship with the media. The Company has a spokesperson, who responds to enquiries from the media and the authorities to the extent possible. The Company publishes relevant news as quickly as possible.

Athena Investments A/S aims to attract and retain qualified employees. Knowledge sharing and relevant information provided to each individual are key words in relation to employees. Athena Investments A/S is aware of the fact that its strategy involves challenges with respect to the flow of information within the Company and is actively working to resolve the matter. Attractive conditions of employment also help to attract and retain qualified employees.