Betolar Plc’s Shareholders’ Nomination Committee’s proposals to the General Meeting 2024

Betolar Plc

Company Release 

31 January 2024 at 8:45 AM EET

 

Betolar Plc’s Shareholders’ Nomination Committee’s proposals to the General Meeting 2024

Betolar Plc’s (“Betolar”) Annual General Meeting is planned to be held on Wednesday 27 March 2024. Betolar’s Shareholders’ Nomination Committee has resolved to make the following proposals to the Annual General Meeting:

Number of members of the Board of Directors

The Shareholders’ Nomination Committee proposes to the Annual General Meeting that the number of the members of the Board of Directors would be seven (7) (6 members in 2023).

Election of the members of the Board of Directors

The Shareholders’ Nomination Committee proposes to the Annual General Meeting that Kalle Härkki, Soile Kankaanpää, Juha Leppänen, Inka Mero, Tero Ojanperä and Ilkka Salonen be re-elected as members of the Board of Directors and Anders Dahlblom as a new member.

Candidate Anders Dahlblom, Master of Science in Economics and Business Administration, CEFA will serve as COO (Chief Operating Officer) of Virala Oy Ab from 16 February 2024. Prior to this, he has been CEO of Glaston Corporation from 2021 to 2023. Before that, he worked at Owens Corning Group, where he has been CEO of the European Insulation Business Unit since 2019. Previously, he has also held positions such as CEO of Paroc Group Oy 2018 and CFO 2006-2017. Owens Corning, a specialist in building and industrial materials, acquired Paroc at the beginning of 2018. Since 2022, he has been a member of the Board of Directors of Conficap Oy and Are Oy and previously, among others, as a member of the Board of Directors of Nordkalk Oy 2018-2022.

The Shareholders’ Nomination Committee proposes to the Board of Directors that it elects Ilkka Salonen as Chairman and Tero Ojanperä as the Deputy Chairman of the Board of Directors.

All the proposed Board Members are considered to be independent of the Company and its significant shareholders, except for Juha Leppänen who is not independent of the Company and is the Company’s major shareholder and Anders Dahlblom who is not independent of the Company’s major shareholder.

The term of the members of the Board of Directors ends at the close of the Annual General Meeting in 2025.

With regard to the selection procedure for the members of the Board of Directors, the Shareholders' Nomination Committee recommends that shareholders take a position on the proposal as a whole at the General Meeting. This recommendation is based on the fact that at Betolar, the Shareholders' Nomination Board is separate from the Board of Directors. The Shareholders’ Nomination Board, in addition to ensuring that individual nominees for membership of the Board of Directors possess the required competences, is also responsible for making sure that the proposed Board of Directors as a whole also has the best possible expertise and experience for the Company.

The Remuneration of the members of the Board of Directors

The Shareholder’s Nomination Committee proposes to the Annual General Meeting that the remuneration payable to the members of the Board of Directors remain unchanged, and the remuneration be paid for the next term, as follows:

• The Chairman of the Board of Directors EUR 3 500 per month and the Deputy Chairman (if any) EUR 2 700 per month; and
• Other members of the Board of Directors EUR 1 900 per month.

In addition, it is proposed to pay the following fees to the members of the committees founded by the Board of Directors:

• The Chairman of the committee EUR 600 per meeting; and
• Other members of the committee EUR 300 per meeting.

It is further proposed that the travel expenses of the members of the Board of Directors be reimbursed in accordance with the maximum amount of the respective travel allowance base approved by the Tax Administration.

The Shareholders’ Nomination Committee made all resolutions unanimously.

As Chairman of the Shareholders’ Nomination Committee has acted Alexander Ehrnrooth (Nidoco AB), Juha Leppänen, Olli-Pekka Kallasvuo (Ajanta Innovations Oy) and Annika Ekman (Ilmarinen Mutual Pention Insurance Company). In addition, Ilkka Salonen, Chairperson of the Board of Betolar is an expert member of the Nomination Board.

 

More information

Alexander Ehrnrooth, Chairman of Betolar Plc’s Shareholders’ Nomination Committee, +358 9 6122340

Certified Adviser: 

Aktia Alexander Corporate Finance Oy, +358 50 520 4098

 

About Betolar

Betolar Plc is a Finnish materials technology company that offers the production of sustainable and low-carbon concrete with the Geoprime solution. The solution converts industrial side streams into a cement substitute.

Betolar's artificial intelligence innovation can significantly reduce CO2 emissions compared to traditional cement-based concrete production by optimizing existing manufacturing processes, supporting solution development with advanced analytics, and creating global markets for side streams. Betolar’s mission is to help reduce CO2 emissions and the use of virgin resources.

Betolar was founded in 2016 and is domiciled in Kannonkoski, Finland. Betolar is listed on the Nasdaq First North Growth Market. Read more: www.betolar.com