Exel Composites' Shareholders' Nomination Board's proposal to the Annual General Meeting 2024

EXEL COMPOSITES PLC          STOCK EXCHANGE RELEASE          12 JANUARY 2024 at 15:30 EET

Exel Composites Plc’s Shareholders’ Nomination Board presents the following proposals to the Annual General Meeting 2024:

 

Number of members and composition of the Board of Directors

The Nomination Board proposes that the number of members of the Board of Directors shall be confirmed to be five (5) and that Jouni Heinonen, Petri Helsky, Helena Nordman-Knutson, Jouko Peussa and Kirsi Sormunen be re-elected as members of the Board of Directors for the term ending at the closure of the Annual General Meeting of 2025.

 

The Nomination Board further proposes Jouni Heinonen to be re-elected as Chairman of the Board of Directors for the term ending at the closure of the Annual General Meeting of 2025.

 

Remuneration of the Board of Directors

The Nomination Board proposes that the annual remuneration for the Board members remain unchanged as follows:

• Chairman: Annual remuneration of EUR 45,000 (previous year EUR 45,000) and additionally EUR 1,500 (1,500) for attendance at each Board and committee meeting and for each other similar all-day Board assignment.
• Board member: Annual remuneration of EUR 21,000 (21,000) and additionally EUR 1,000 (1,000) for attendance at each Board and committee meeting and each other similar all-day Board assignments. In addition, for each committee meeting, the meeting fee for the committee chairman shall be EUR 1,500 (1,500).
• Travel expenses and other out-of-pocket expenses arising from the Board work will be compensated in accordance with the Company’s established practice and travel rules.

 

Out of the yearly remuneration 60% would be paid in cash and 40% in Company’s shares.

 

The Nomination Board’s proposals will be included in the notice to convene the Annual General Meeting to be published at a later date.

 

Composition of the Shareholders’ Nomination Board

The composition of the Nomination Board preparing the proposal for the Annual General Meeting 2024 was the following:

• Kalle Saariaho, OP Fund Management Company, as Chairman of the Nomination Board
• Markus Lindqvist, Aktia Mikro Markka
• Esko Torsti, Ilmarinen Mutual Pension Insurance Company
• Petteri Vaarnanen, Sp-Fund Management Company
• Jouni Heinonen, Chairman of the Board of Directors, as expert member

 

For further information, please contact:

Kalle Saariaho, Chairman of the Nomination Board, tel. +358 10 252 8374

 

Exel Composites Plc

Sanna Ahvenniemi, Head of Investor Relations, tel. +358 40 864 3000, [email protected]

 

Exel Composites in brief

At Exel Composites, we use over 60 years’ experience to solve challenges and help customers save resources. Our forward-thinking composite solutions made with continuous manufacturing technologies serve customers in a wide range of industries around the world. You can find our products used in applications from wind power and transportation to building and infrastructure.

 

Our collaborative approach and global footprint set us apart from our competition. We use our expertise to help customers reduce weight, improve performance and energy efficiency and decrease total lifetime costs. We want to be the first choice for sustainable composite solutions globally.

 

Headquartered in Finland, Exel Composites employs approximately 650 forward-thinking professionals around the world and is listed on Nasdaq Helsinki. To find out more about our offering and company please visit www.exelcomposites.com.

 

Exel Composites Plc