Sponda Plc Stock Exchange Announcement 17 January 2013, 3:15 pm
Proposals on the Board composition and remuneration by Shareholders’ Nomination Board of Sponda
In its meeting, the Shareholders’ Nomination Board of Sponda has decided to propose to the Annual General Meeting to be held 18 March 2013 that the Board will consist of seven members. The Nomination Board further propose that Klaus Cawén, Tuula Entelä, Arja Talma and Raimo Valo to be re-elected for the Board of Directors and that Kaj-Gustaf Bergh, Christian Elfving and Juha Laaksonen to be elected as new members of the Board of Directors.
The Nomination Board proposes to the Annual General Meeting that the annual remuneration payable to the members of the Board to be elected at the Annual General Meeting for the term until the close of the Annual General Meeting in 2014: EUR 60,000 for the Chairman, EUR 36,000 for the Vice Chairman, and EUR 31,200 for each member. Additional compensation of EUR 1,000 shall be paid for the Chairman of the Board for the Board meetings attended and EUR 600 shall be paid for the members of the Board for the Board meetings attended. The Nomination Board proposes that EUR 600 shall be paid for member of the Board for committee meetings and EUR 1,000 shall be paid for the Chairman of the Audit Committee for the Audit Committee meetings attended. The Nomination Board proposes that 40 % of the fixed annual remuneration be paid in Sponda shares purchased from the market. The shares will be purchased within two weeks from the release of the interim report January 1 – March 31, 2013 of Sponda Plc.
The Board of Directors will incorporate the proposals into the Annual General meeting notice which will be published later.
The Shareholders’ Nomination Board consisted of three largest shareholders on 1 October 2012:
Solidium Oy, represented by Kaj-Gustaf Bergh, Oy Palsk Ab
Mutual Pension Fund Ilmarinen, Timo Ritakallio
Mutual Pension Fund Varma, Risto Murto
For further information, please contact: Kaj-Gustaf Bergh, Chairman of the Shareholders’ Nomination Board, Tel. +358 40 524 7730.
President and CEO
Sponda Plc is a real estate company specializing in commercial properties in the largest cities in Finland and in Russia. Sponda's business concept is to own, lease and develop office, retail and logistics properties into environments that promote the business success of its clients. The fair value of Sponda's investment properties is approximately EUR 3.2 billion euros and the leasable area is around 1.5 million m².