ROBIT PLC STOCK EXCHANGE RELEASE 10 JANUARY 2020 AT 9.00 A.M.
PROPOSALS OF ROBIT PLC SHAREHOLDERS’ NOMINATION COMMITTEE FOR THE 2020 ANNUAL GENERAL MEETING
Robit Plc shareholders’ Nomination Committee has prepared proposals on the members of the Board of Directors and the remuneration of the Board of Directors for the Annual General Meeting of Shareholders, to be held on 23 March 2020.
Number and election of Board members
The Nomination Committee proposes to the Annual General Meeting that six (6) members will be elected to the Board of Directors.
The Nomination Committee proposes to the Annual General Meeting that Mammu Kaario, Mikko Kuitunen, Kalle Reponen and Harri Sjöholm be re-elected as members of the Board of Directors for the term ending at the close of the next Annual General Meeting. Kim Gran and Anne Leskelä are proposed as new members of the Board of Directors. Information on the proposed persons relevant to the work of the Board of Directors will be made available on the company's website during January 2020.
All nominees have given their consent to their election and are independent of the company and its significant shareholders, except for Harri Sjöholm, who is dependent on the company and a major shareholder.
Remuneration of the Board of Directors
The Nomination Committee proposes to the Annual General Meeting that the remuneration payable to the members of the Board of Directors and the Chairman of the Board remain unchanged. The annual remuneration of the Chairman of the Board of Directors is EUR 45,000 euros, of which 40% is paid in shares and the remaining 60% is withholding tax, which the company withholds and pays to the tax authorities. The annual remuneration of a member of the Board of Directors is EUR 30,000 euros, of which 40% is paid in shares and the remaining 60% is withholding tax, which the company withholds and pays to the tax authorities.
In addition, the Nomination Committee proposes that the members and Chairman of the Board of Directors will be paid for Board and Committee meetings a meeting fee of EUR 500 per meeting attended by them. In addition, travel, accommodation and other expenses are reimbursed.
The proposals of the Nomination Committee will be included in the notice to convene the Annual General Meeting.
The following persons serve on the shareholders’ Nomination Committee: Timo Sallinen, Head of Listed Securities, Varma Mutual Pension Insurance Company (Chairman) and Harri Sjöholm, CEO, Five Alliance Oy, Tuomas Virtala, CEO, Asset Management, OP Financial Group, and Jukka Vähäpesola, Head of Equities, Elo Mutual Pension Insurance Company, as the other members.
ROBIT PLC
Harri Sjöholm
Chairman of the Board
Further information:
Harri Sjöholm, Chairman of the Board
+358 40 062 2092
harri.sjöholm@robitgroup.com
Robit is a strongly internationalised growth company servicing global customers and selling drilling consumables for applications in mining, construction and contracting, tunnelling and well drilling. The company's offering is divided into two product and service ranges: Top Hammer and Down-the-Hole. Robit has 15 of its own sales and service points throughout the world as well as an active sales network in 115 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia and the UK. Robit’s shares are listed on NASDAQ Helsinki Ltd. Further information is available at: www.robitgroup.com
Distribution:
Nasdaq Helsinki Ltd
Key media
www.robitgroup.com