Munksjö Oyj: Proposals of the Shareholders' Nomination Board to the Annual General Meeting 2015
MUNKSJÖ OYJ, STOCK EXCHANGE RELEASE 13 January 2015 at 11.50 a.m. CET
Munksjö Oyj: Proposals of the Shareholders' Nomination Board to the Annual General Meeting 2015
The Nomination Board comprises representatives of the three largest shareholders of the company and, in addition, of the Chairman of the Board of Directors and a person nominated by the company's Board of Directors, as expert members. According to its charter, the Nomination Board shall submit its proposals to the Board of Directors at the latest on 31 January preceding the next Annual General Meeting.
The Annual General Meeting of Munksjö Oyj will be held on Wednesday, 15 April 2015 at the Finlandia Hall in Helsinki. The notice to convene the Annual General Meeting will be given later on by the Board of Directors.
The Nomination Board has at its meeting today submitted the following proposals to the Annual General Meeting 2015;
Proposal on the composition of the Board of Directors
The number of Board members shall decrease by one and shall be confirmed at six (6). Current members of the Board of Directors; Peter Seligson, Fredrik Cappelen, Sebastian Bondestam, Elisabet Salander Björklund, Hannele Jakosuo-Jansson and Alexander Ehrnrooth shall be re-elected. Caspar Callerström, current member of the Board, has informed the Nomination Board that he is not available for re-election. The proposed members of the Board of Directors have indicated that they, if elected, will elect Peter Seligson as the Chairman of the Board and Fredrik Cappelen as the Deputy Chairman of the Board.
The CV's of the current members of the Board of Directors are available at www.munksjo.com.
Proposal to amend the Charter of the Nomination Board following the secondary listing on Nasdaq Stockholm
The Nomination Board proposes that the Charter of the Nomination Board be amended, so that the right to nominate the shareholder representatives lies with those three shareholders whose share of all the voting rights in the company is on 31 May preceding the next Annual General Meeting the largest on the basis of the shareholders’ register of the company held by Euroclear Finland Ltd and the register of the company’s shareholders held by Euroclear Sweden AB. Previously, the right to nominate was only based on the shareholders’ register held by Euroclear Finland Ltd.
Proposal on the remuneration of the members of the Board of Directors, the Board committees and the Nomination Board
The annual remuneration of the Board of Directors shall increase. The Chairman shall receive EUR 80,000 a year and the ordinary members EUR 40,000 each.
The annual remuneration of the Board committees shall remain unchanged with the exception of an increase in the remuneration of the Chairman of the Audit Committee. The Chairman of the Audit Committee shall annually receive EUR 12,000 and the ordinary members EUR 6,000 each. The Chairman of the Remuneration Committee shall annually receive EUR 6,000 and the ordinary members EUR 3,000 each.
The chairman of the Nomination Board shall annually receive EUR 6,000 and the ordinary members EUR 3,000 each.
Travel expenses are proposed to be reimbursed in accordance with the company's travel policy.
Munksjö Oyj
For more information, please contact:
Gustav Adlercreutz, Secretary of the Board of Directors and the Nomination Board, tel. +358 10 234 5001
Munksjö – Materials for innovative product design
The Munksjö Group is an international specialty paper company with a unique product offering for a large number of industrial applications and consumer-driven products. Founded in 1862, Munksjö is among the leading producers in the world of high-value added papers within attractive market segments such as Decor paper, Release Liners, Electrotechnical paper, Abrasive backings and Interleaving paper for steel. Given Munksjö’s global presence and way of integrating with its customers’ operations, the company forms a global service organisation with approximately 2,900 employees. Production facilities are located in France, Sweden, Germany, Italy, Brazil, Spain and China. Munksjö Oyj is listed on Nasdaq Helsinki and Nasdaq Stockholm. Read more at www.munksjo.com.