Proposal of the Shareholders’ Nomination Board for the composition and remuneration of Puuilo’s Board of Directors

PUUILO PLC, STOCK EXCHANGE RELEASE, 22.3.2023 at 15.00 EET

Proposal of the Shareholders’ Nomination Board for the composition and remuneration of Puuilo’s Board of Directors 

The shareholders’ Nomination Board of Puuilo Plc proposes to the Annual General Meeting that the number of the members of the Board of Directors remain the same and will be six.

The Nomination Board proposes that current members of the Board of Directors Bent Holm, Mammu Kaario, Rasmus Molander and Markku Tuomaala will be re-elected. The Nomination Board also proposes that Lasse Aho and Tuomas Piirtola will be elected as a new members to the Board of Directors.

Current members of the Board of Directors Tomas Franzén and Timo Mänty have notified that they are no longer available to be elected as a members of the Board of Directors.

All proposed persons have granted their consent to the position. Lasse Aho’s and Tuomas Piirtola’s CVs are attached to this stock exchange release. 

All proposed persons are independent of the company and its major shareholders except Rasmus Molander who is independent of the company, but dependent of the major shareholder.

The Nomination Board proposes to the Annual General Meeting that Lasse Aho will be elected as a Chairman of the Board of Directors.

Remunerations of the members of the Board of Directors

The Nomination Board proposes that the remunerations of the members of the Board of Directors are as follows:

-EUR 60.000 to the Chairman of the Board of Directors as yearly remuneration

-EUR 30.000 to the other members of the Board of Directors as yearly remuneration

-In addition the Chairman of the Audit Committee will be paid EUR 5.000 as yearly remuneration and other members of the Audit Committee EUR 2.500 as yearly remuneration

All proposed remuneration fees are same than the current remuneration fees. All remuneration fees will be paid in cash.

Members of the Shareholder’s Nomination Board

The Nomination Board consists of Puuilo Invest Holding AB (Adelis Equity Partners), represented by John-Matias Uuttana, Markku Tuomaala, represented by Toni Kemppinen, Keskinäinen Eläkevakuutusyhtiö Ilmarinen, represented by Esko Torsti and Timo Mänty as an expert member. Puuilo’s Nomination Board is chaired by John-Matias Uuttana.

PUUILO PLC

For further information, please contact:

Ville Ranta, CFO, mobile phone: +358 40 555 4995

Email: ir (@) puuilo.fi Pictures for media: https://www.puuilo.fi/medialle