Revised proposal of the Shareholders’ Nomination Board for the composition of Aktia Bank's Board of Directors and their remuneration

Aktia Bank Plc

Stock Exchange Release

25 March 2020 at 4.00 p.m.

Revised proposal of the Shareholders’ Nomination Board for the composition of Aktia Bank's Board of Directors and their remuneration                                                                   

Significant changes have occurred in Aktia Bank Plc's ownership base after the Shareholders’ Nomination Board of Aktia Bank Plc on 31 January 2020 announced its proposal to the General Meeting regarding the composition of the Board of Directors. The Nomination Board has therefore revised its proposal to the General Meeting to ensure that the proposition is supported also by Aktia's new major shareholders.

The Nomination Board presents the following as its revised proposal to Aktia Bank Plc’s Annual General Meeting 2020:

The number of the members of the Board of Directors is proposed to be increased from eight and set at nine.

The Shareholders’ Nomination Board proposes that of the present members of the Board of Directors, Christina Dahlblom, Johan Hammarén, Maria Jerhamre Engström, Johannes Schulman, Arja Talma and Lasse Svens, subject to their consent, shall be re-elected for a term continuing until the next Annual General Meeting has concluded. For more information on the Board members proposed to be re-elected, please see the company’s website at

The Shareholders’ Nomination Board also proposes that Kari A. J. Järvinen, Harri Lauslahti and Olli-Petteri Lehtinen be elected as new members of the Board of Directors for the same term, subject to their consent. Further information on the new Board members proposed to be elected have been attached to this release and on the company’s website

All the proposed persons are independent in relation to the company and in their relationship to significant shareholders according to the definition of the Corporate Governance Code.

All the proposed persons have informed that they intend, if they are elected, to re-elect Lasse Svens amongst them as Chairman of the Board of Directors.

The Board members Stefan Damlin and Tarja Wist have informed that they will not be available for re-election.

The Nomination Board proposes that the remuneration for the Board of Directors be determined as follows:

• Chairman, EUR 64,300 (2019: EUR 61,200)
• Deputy Chairman, EUR 36,400 (2019: EUR 34,650)
• member, EUR 28,500 (2019: EUR 27,140)

Meeting remunerations are proposed to be unchanged, i.e. EUR 500 per attended meeting and EUR 1,000 to the Chair of a Committee, when acting as Chair. Compensation for travel and accommodation expenses as well as a daily allowance is paid in line with the Finnish Tax Administration's guidelines.

Following the changes in the ownership base Carl Pettersson (appointed by Veritas Pension Insurance Company Ltd) has acted as Chairman of the Shareholders’ Nomination Board in Aktia Bank Plc. In addition, the following have participated in the Nomination Board's work: Stefan Björkman (appointed by Hammarén & Co Oy Ab), Gisela Knuts (appointed by the Åbo Akademi University Foundation), and Lasse Svens, Chairman of the Board of Directors of Aktia Bank Plc, as expert. The Foundation Tre Smeder and The Society of Swedish Literature in Finland have refrained from future participation in the Nomination Board's work.

Aktia Bank Plc

Further information:

Carl Pettersson, Chairman of the Nomination Board, tel. 1

Distribution:

Nasdaq Helsinki Ltd

Mass media

Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 750 people around Finland. Aktia's assets under management (AuM) on 31 December 2019 amounted to EUR 9.9 billion, and the balance sheet total was EUR 9.7 billion. Aktia's shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.

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