Organization of the Board of Enedo Plc

Enedo Plc         Stock Exchange Release         17 May 2021 at 13:15

ORGANIZATION OF THE BOARD OF ENEDO PLC

In its first meeting held after the Annual General Meeting, the Board of Directors elected Olle Hulteberg as Chairman.

The Board of Directors did not establish any committees. The duties of the Audit Committee are discharged by the Board of Directors.

The Board of Directors has evaluated the independence of the Board members in compliance with the recommendations of the Finnish Corporate Governance Code 2020. It is the view of the Board of Directors that all Board members are considered to be independent of the Company and Taru Narvanmaa, Antti Sivula and Vesa Tempakka are considered independent of the Company’s major shareholders.

The Board of Directors also resolved that the Board remuneration will be reduced from the level proposed by the Nomination Board and approved by the Annual General Meeting. The monthly remuneration of the members of the Board of Directors will accordingly be the following:

• Chairman of the Board of Directors EUR 2 100 (EUR 3 750 decided in AGM)     
• Other members of the Board of Directors EUR 1 250 (EUR 2 000 decided in AGM)      

ENEDO PLC

BOARD OF DIRECTORS

For further information please contact Mr. Vesa Leino, CEO, tel. 6.

DISTRIBUTION

Nasdaq Helsinki Ltd

Principal media

Enedo

Enedo is a European designer and producer of high-quality electronic power supplies and systems for critical equipment even in the most demanding environments. Enedo’s mission is to make electricity better – more reliable, more secure, more energy efficient – and just right to fit its purpose. Enedo’s three main product categories are Led Drivers, Power Supplies and Power Systems. In 2020 the group’s net sales was EUR 38,5 million. Enedo has 354 employees and its main functions are located in Finland, Italy, Tunisia and USA. The group’s head office is in Finland and parent company Enedo Oyj is listed on Nasdaq Helsinki Oy.