Corporate Governance

The Board of Directors of CYBER1 (Cyber Security 1 AB) has been approved for listing of its shares on Nasdaq First North Stockholm under the ticker CYB1 and ISIN code SE0007604061. First day of trading on Nasdaq First North Stockholm was 22 September 2016. All shares in CYBER1 are subject to trading.

Rules & Codes

The Company operates under Swedish law.

Following the Listing on Nasdaq First North, CYBER1 will neither be required to comply with the corporate governance rules of the Swedish Companies Act (Sw. Aktiebolagslagen 2005:551) applicable to companies which securities are admitted to trading on a regulated market, nor the Swedish Corporate Governance Code. This is due to the fact that Nasdaq First North is not considered to be a regulated market. However, it is the Company’s ambition to conduct a review of its internal governance procedures in order to apply to the codes in the future.

Nasdaq First North is an alternative market, operated by the different exchanges within Nasdaq. It does not have the legal status as an EU-regulated market. Companies at Nasdaq First North are subject to the rules of Nasdaq First North and not the legal requirements for admission to trading on a regulated market.

Swedish Companies Act

The board of directors applies written rules of procedure, which are revised annually and adopted by the inaugural board meeting every year. Among other things, the rules of procedure govern the practice of the board of directors, functions and the division of work between the members of the board of directors and the CEO. At the inaugural board meeting, the board of directors also adopts instructions for the CEO, including instructions for financial reporting.

The board of directors meets according to an annual predetermined schedule. In addition to these meetings, additional board meetings can be convened to handle issues that cannot be postponed until the next ordinary board meeting. In addition to the board meetings, the Chairman of the board of directors and the CEO continuously discuss the management of the Company.

Board of Directors

The Board of Directors shall consist of not less than three and not more than nine members, with at most six deputies.

The board of directors is the second-highest decision making body of the Company after the shareholders’ meeting and the highest executive body of the Company. According to the Swedish Companies Act, the board of directors is responsible for the organisation of the company and the management of the company’s affairs, which means that the board of directors is responsible for, among other things, setting targets and strategies, securing routines and systems for evaluation of set targets, continuously assessing the financial condition and profits as well as evaluating the operating management. The board of directors is also responsible for ensuring that annual reports and interim reports are prepared in a timely manner. Moreover, the board of directors appoints the CEO. Members of the board of directors are normally appointed by the annual shareholders’ meeting for the period until the end of the next annual shareholders’ meeting.

CYBER1 - Johan Bolsenbroek
Johan Bolsenbroek

Born 1966
Ordinary Board member since 2020

Other assignments: Co-owner and CFO of Triangle Studios B.V. CEO of ScreenCheck International Group
Previous assignments: Managing Partner at BdR Executive Partners B.V.
Education: MBA in International Business from the University of Georgia – Terry College of Business and a BBA in International business from Nyenrode Business Universiteit

Shareholdings: 3,500,000 shares
Non independent Director

Robert Brown - CYBER1
Robert Brown

Born 1970
Ordinary Board member since 2021

Other assignments: Director, CSSA & CSAD
Previous assignments (past five years): CEO, Dynamic Recovery Holdings, CEO Cyber Security 1 AB
Education: KES, South Africa

Shareholdings: 68,386,438 shares
Non independent Director

CYBER1 - Zeth Nyström
Zeth Nyström

Born 1946
Ordinary Board member since 2020

Other assignments: Chairman of Trosa Fibernät AB, the Trosa municipality broadband provider.Member of the City Council of Trosa, Lay Judge for Svea Hovrätt

Previous assignments:  C.E.O, C.O.O and C.M.O of Speedy Tomato AB (Now Telia Communications), Tess Brazil (now Telia), Europolitan AB (now Telenor) and Hi3G AB (now 3/Three telecommunications)
Education: Bachelor’s degree in economics from Gothenburg University

Shareholdings: 600,000 shares
Independent of the Company and Group Management
Independent of Principal shareholders

CYBER1 - Pekka Honkanen
Pekka Honkanen

Born 1951
Ordinary Board member since 2020

Other assignments: Board Director of Takana Group Oy, Senior Advisor of Enfuce Financial Services,  Owner and Chairman of PHOY Solutions Ltd.

Previous assignments: Board Director of Poplatek Oy (Now Part of the Nets Group), Board Director of St1 Finance Oy, Board Director of Paytrail Oy (Now Part of Nets Group), Chairman of Silverskin Information Security Oy,  and senior roles within Visa International and OP FInancial Group

Education: M.Sc in computer science and economy from Turku University

Shareholdings: 1,159,966
Independent of the Company and Group Management
Independent of Principal shareholders

CYBER1 - Alan Goslar
Alan Goslar

Born 1947
Ordinary Board member since 2020

Other assignments: Dial Advisory Limited, Owner of Payment Advisory Management Services
Previous assignments: CEO Transactworld Ltd, Chairman of supervisory Board of Payon AG
Education: University of the Witwatersrand

Shareholdings: 2,400,000 shares
Independent of the Company and Group Management
Independent of Principal shareholders

Board Committees

According to the Board Workflow and in line with the Swedish Corporate Governance Code, the Board delegates responsibilities within the Board. Board delegates some of the tasks to the Board Committees. Consequently, the Board Committees prepare reports and recommendations as well as provide follow-up reports on decisions and actions taken by the Board. CYBER1 Board appointed a Remuneration Committee (Alan Goslar and Pekka Honkanen), an Audit & Governance Committee (Zeth Nystrom and Alan Goslar) and Finance Committee (Alan Goslar, Pekka Honkanen and Robert Brown). The Committees are confirmed following the next Board meeting following the AGM.

Remuneration Committee

The Remuneration Committee consists of Alan Goslar and Pekka Honkanen. The committee held meetings in 2022 surrounding executive remuneration, as well as facilitating the Staff Share Incentive Program as adopted in the 2022 AGM. For 2023, the committee aims to work with the operational management and identify areas where the company can attract and importantly retain key employees. The main tasks of the Remuneration Committee consist of reviewing and preparing, for resolution by the Board, proposals on salary and other remuneration, including retirement compensation, for the Group Management Team and CEO. The Committee also reviews and prepares resolutions to be made by the Board, proposals to the AGM on Guidelines for remuneration and remuneration adjustments to the Group Management and Executive Team. Remuneration Committee does this by analyzing trends impacting on remuneration, other legislative changes, disclosure rules and the general global executive remuneration environment.

Audit & Governance Committee

The Audit Committee consist of Zeth Nyström (Chair), Alan Goslar and Pekka Honkanen. The Committee held meetings beyond 2023, following its establishment at the end of 2022. The Audit & Governance Committee is appointed by the Board of Directors and is a body within the Board. The purpose of the Committee is to comply with the statutory obligations set to the audit committee and, by complying, to improve internal controls of the company.

Finance Committee

The Finance Committee consists of Alan Goslar (Chair), Robert Brown and Pekka Honkanen. The Committee held meetings beyond 2023, following its establishment at the end of 2022. The Finance Committee is a body within the Board. The purpose of the Committee is to manage relationships with the major shareholders and other key stakeholders in relation to the financing of the company as well as setting the standards and requirements for financial reporting.

Additional Information

Articles of Association – English

1. Company name: The company’s name is Cyber Security 1 AB (publ).

2. Registered Office: The registered office is located in the municipality of Stockholm, Sweden.

3. Company Business: The company shall develop and sell solutions to increase security for uses of the internet (cybersecurity services), by selling products and services in this area, by itself and through associated companies, subsidiaries, agents and shall engage in strategic advisory services, govern investments in business and perform parent company business and related services.

4. Share Capital: The share capital shall not be less than EUR 100,000 and not more than EUR 400,000.

5. Currency: The company shall conduct its financial reporting in Euro.

6. Number of Shares: The number of shares shall be not less than 375,000,000 and not more than 1,500,000,000.

7. Board of Directors: The Board of Directors shall consist of not less than three (3) and not more than nine (9) members, with a maximum number of six (6) deputies.

8. Auditor: The company shall have one (1) or two (2) auditors. The company may choose to appoint an equal number of deputy auditors.

9. Financial Year: The company’s financial year shall be the calendar year.

10. Notice of General Meeting: Notice of annual general meeting and extraordinary general meeting where amendments to the articles of association will be considered shall be issued not earlier than six and not later than four weeks before the day of the meeting. Notice of other extraordinary general meetings shall be issued no earlier than six and no later than two weeks before the meeting.

11. Annual General Meeting: At the annual general meeting the following matters shall be dealt with:

  • Election of chairman of the meeting.
  • Preparation and approval of the voting list.
  • Approval of the agenda.
  • Election of one or two participants to verify the minutes.
  • Determination of whether the general meeting has been duly convened.
    Presentation of the company’s annual accounts and its auditors’ report and, where applicable, the consolidated accounts and consolidated audit report.
  • Decision regarding;
    a) Adoption of the income statement and balance sheet and, where applicable, the consolidated income statement and consolidated balance sheet.
    b) Appropriation of the profit or loss according to the adopted balance sheet.
    c) Discharge from liability for directors of the board and the CEO.
    – Determination of the number of board directors and deputy board directors, and where applicable, auditors and deputy auditors.
    – Determination of remuneration to the board and, where applicable, auditors.
    – Election of board directors and deputy board directors and, where applicable, auditors and deputy auditors.
    – Other business due at the general meeting according to the Swedish Companies Act or the articles of association.


12. Shareholders entitled to attend the General Meeting: Shareholders who wish to participate in the general meeting must notify the company not later than the day specified in the notice. That day may not be a Sunday, other public holiday, Saturday, Midsummers Eve, Christmas Eve or New Year’s Eve and not fall earlier than the fifth weekday before the meeting.

13. Record Day provisions (1998:1479): The company’s shares shall be registered in a record day register of reconciliation pursuant to the Swedish Central Securities Depositories and Financial Instruments Account Act (1998:1479).

14. Collection of proxies and postal voting- The Board of Directors may collect proxies in accordance with the procedure specified in Chapter 7 paragraph 4 section 2 of the Companies Act (2005: 551). Before a general meeting, the Board of Directors shall be entitled to decide that the shareholders shall be able to exercise their voting rights by post.

These articles of association were adopted at the annual general meeting May 25, 2022.

Executive Management

CYBER1 has an experienced and highly skilled executive management team that is dedicated to driving the company’s growth and success. The team comprises professionals with diverse backgrounds and expertise in Cyber Security, technology, finance, and business. They are responsible for overseeing the company’s day-to-day operations, developing and implementing strategic plans, and ensuring that CYBER1 delivers exceptional value to its clients. The executive management team is committed to maintaining CYBER1‘s position as a leading global Cyber Security company and delivering innovative solutions that address the evolving Cyber Security landscape. With their combined expertise and leadership, the team drives CYBER1‘s continued growth and success in the industry.

Robert Brown - CYBER1
Robert Brown

Born 1970
President Since 2021

Other assignments: Director, CSSA & CSAD
Previous assignments (past five years): CEO, Dynamic Recovery Holdings, CEO Cyber Security 1 AB
Education: KES, South Africa

Shareholdings: 50,774,416 shares

CYBER1-Peter-Sedin
Peter Sedin

Born 1968
Chief Executive Officer since 2021

Other assignments: CEO & Founder, Asight AB
Previous assignments (past five years): Board member, Scandinavian School of Brussels, Vice President at Volvo Construction
Education: Global Executive MBA, Stockholm School of Economics, MSc Mechanical Engineering, Linköping University

Shareholdings: 150,000 shares

CYBER1 - Vivian Gevers
Vivian Gevers

Born 1982
Chief Operating Officer since 2019

Other assignments: N.A.
Previous assignments (past five years): Managing Director, Credence Security Dubai
Other assingments: Vivian is currently not engaged in any other assignments
Education: BCom in Management, University of South Africa

Shareholdings: 360,000 shares

CYBER1 - Renaldo
Renaldo Ferreira

Born 1988
Acting Chief Financial Officer since 2024

Other assignments: N.A.
Previous assignments (past five years): Lead Financial Manager at C1 Solutions, Financial Manager at Federal Airlines, Assistant Auditor at Logista CA(SA)
Other assignments: Renaldo is currently not engaged in any other assignments.
Education: BCom in Financial Management Sciences at the University of Pretoria, Postgraduate Diploma in Accounting Sciences from the University of South Africa, SAICA Accredited.

Shareholdings: 0 shares

CYBER1 - Simon Perry
Simon Perry

Born 1982
Chief Technical Officer since 2021

Other assignments: Chief Technical Officer, Cyber Security South Africa
Previous assignments: Sales Engineer, McAfee
Education: Northcliff High

Shareholdings: 19,750 shares

Invest in CYBER1

Investing in CYBER1 presents a unique opportunity to gain exposure to the growing Cyber Security industry. As cyber threats become more sophisticated and prevalent, businesses of all sizes are increasingly recognizing the importance of investing in Cyber Security solutions to protect their assets and sensitive data.