Aspo Nomination Board proposals to the Annual Shareholders' meeting

Aspo Plc

Stock Exchange Release

January 16, 2020 at 9 a.m.

Aspo Nomination Board proposals to the Annual Shareholders' meeting

The Nomination Board of Aspo Plc's shareholders proposes to the Annual Shareholders' Meeting of Aspo Plc to be held on April 7, 2020 that the Board of Directors will have six members.

Members of the Board

The Nomination Board proposes that Mammu Kaario, Mikael Laine, Gustav Nyberg, Salla Pöyry and Tatu Vehmas, current members of the company's Board of Directors, be re-elected as members of the Board and Heikki Westerlund be elected as the new member of the Board for the term closing at the end of the Annual Shareholders' Meeting 2021.

Heikki Westerlund is the Chairman of the Board of Directors of Orion Oyj and member of the Board of Directors of Tikkurila Oyj, Kemppi Oy and Duuri Oy. He made a long career in CapMan Plc acting as the CEO as well as the Chairman of the Board of Directors, and he has been involved in numerous mergers and acquisitions and corporate development activities during his career. 

Remuneration paid to the members of the Board

The Nomination Board proposes that the compensations of the Board members remain unchanged and Board members receive the following monthly remuneration:

- EUR 2,700 per month for members of the Board of Directors

- EUR 4,050 per month, for the Vice Chairman

- EUR 5,400 per month, for the Chairman

The Nomination Board proposes that the meeting fees paid to members of the Audit Committee and Remuneration Committee remain unchanged. The Nomination Board proposes that a meeting fee of the members of the Committees will be EUR 700 per meeting and a meeting fee of the Chairman of the Audit Committee and of the Remuneration Commitee EUR 1,050 per meeting. If the Chairman of the Committee is also the Chairman or the Vice Chairman of the Board of Directors, the Nomination Board proposes that the fee paid to the Chairman of the Committee is the same as that paid to members of the Committee. Board members having a full-time position in an Aspo Group company are not paid a fee.

The charter of the Shareholders’ Nomination Board

The Nomination Board proposes that the article 4 of the charter will be changed as follows. The current wording in the charter, “to prepare to the Annual Shareholders’ Meeting a proposal on the remuneration of the members of the Board of Directors” is proposed to be changed to “to prepare to the Annual Shareholders’ Meeting proposals on the remuneration policy of the Board of Directors and other remuneration topics of the members of the Board of Directors”.

Members of the Nomination Board

The Shareholders' Nomination Board consists of the representatives of the four largest shareholders. According to the list of shareholders as of August 30, 2019, the following representatives of the largest shareholders were members of the Nomination Board which prepared proposals for the Annual Shareholders' Meeting 2020: Roberto Lencioni, Chairman (Vehmas family); Veronica Timgren (Nyberg family, including Oy Havsudden Ab); Reima Rytsölä, (Varma Mutual Pension Insurance Company); and Annika Ekman (Ilmarinen Mutual Pension Insurance Company). In addition, Gustav Nyberg, Chairman of Aspo Board of Directors, has acted as an expert member of the Nomination Board.

ASPO PLC

Aki Ojanen

CEO

Further information:

Roberto Lencioni, Chairman of the Nomination Board, work tel. 3 ,

Aspo is a conglomerate that owns and develops business operations in Northern Europe and growth markets focusing on demanding b-to-b customers. Our strong company brands - ESL Shipping, Leipurin, Telko and Kauko - aim to be the market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these. Together they generate Aspo's goodwill. Aspo's Group structure and business operations are continually developed without any predefined schedules. 

Distribution:

Nasdaq Helsinki

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