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Decisions taken by Anora’s Annual General Meeting 2022 and Anora’s Board of Directors

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ANORA GROUP PLC   STOCK EXCHANGE RELEASE   11 May 2022 AT 4:00 p.m. EEST

Decisions taken by Anora’s Annual General Meeting 2022 and Anora’s Board of Directors

The Annual General Meeting of Anora Group Plc was held in Helsinki on 11 May 2022. The shareholders and their proxy representatives could only participate in the meeting and exercise their shareholder’s rights by voting in advance as well as by submitting counterproposals and asking questions in advance. It was not possible to participate in the meeting in person at the meeting venue. The extraordinary meeting procedures were based on the temporary legislation (375/2021) that entered into force on 8 May 2021.

The Annual General Meeting adopted the financial statements and discharged the members of the Board of Directors and the CEO from liability for the financial year 2021.

Dividend payment

The meeting approved the proposal by the Board of Directors to pay a dividend of EUR 0.45 per share for the financial year 2021. The dividend will be paid on 20 May 2022 to a shareholder registered in the shareholders’ register held by Euroclear Finland Oy on the record date of the payment, i.e. 13 May 2022.

Adoption of the Remuneration Report of the governing bodies

The Annual General Meeting adopted the Remuneration Report of the governing bodies.

Remuneration of the members of the Board of Directors

The meeting decided based on the proposal by the Shareholders’ Nomination Board that the remuneration of the members of the Board of Directors elected by the Annual General Meeting, during the next term consists of an annual fee as follows:

  • EUR 60 000, Chairperson
  • EUR 45 000, Vice Chairperson
  • EUR 30 000, member

In addition to these fees, the following annual fees are paid to members of the Board of Directors elected by the Annual General Meeting who are appointed by the Board as members of the Board’s permanent and temporary Committees:

Audit Committee:

  • EUR 10 000, Chairperson
  • EUR 5 000, member

Human Resources Committee:

  • EUR 8 000, Chairperson
  • EUR 4 000, member

Integration Committee (temporary):

  • EUR 10 000, Chairperson
  • EUR 5 000, member

In addition to these fees, the Board members elected by the Annual General Meeting receive a meeting fee for the Board of Directors and Board Committee meetings of EUR 600 per meeting and EUR 1 200 per meeting for members travelling to a meeting outside her/his country of residence. Travel expenses are reimbursed in accordance with the company’s travel policy.

Based on the proposal by the Shareholders’ Nomination Board, Board members elected by the Annual General Meeting may, at his/her discretion, choose from the following five alternatives:

  1. no cash 100% in shares
  2. 25% in cash 75% in shares
  3. 50% in cash 50% in shares
  4. 75% in cash 25% in shares
  5. 100% in cash no shares

To the extent fees would be payable in Anora’s shares, such shares will be acquired directly on behalf of or otherwise delivered to the Board members after the release of Anora’s interim report 1 January–30 September 2022. If the remuneration in shares cannot be delivered at that time due to insider regulation or other justified reasons, the company shall deliver the shares later or pay the remuneration fully in cash. The Shareholders’ Nomination Board has recommended that the Board members elected by the Annual General Meeting accumulate a shareholding in Anora that exceeds his/her one-time annual remuneration.

Composition of the Board of Directors

The meeting approved the number of members of the Board of Directors elected by the Annual General Meeting to be eight (8). The current members of the Board of Directors Kirsten Ægidius, Ingeborg Flønes, Michael Holm Johansen, Jyrki Mäki-Kala, Torsten Steenholt and Sanna Suvanto-Harsaae were re-elected as members of the Board of Directors, and Christer Kjos and Annareetta Lumme-Timonen were elected as new members of the Board of Directors. Michael Holm Johansen was elected as Chairperson and Sanna Suvanto-Harsaae as Vice Chairperson of the Board of Directors. The term for the members of the Board of Directors lasts until the end of the next Annual General Meeting.

In addition to the Board members elected by the Annual General Meeting, Anora’s employees have, in accordance with the agreement on employee participation between Anora and the special negotiating body of the employees, elected two members and their deputies to the Board of Directors. Arne Larsen (deputy Bjørn Oulie) and Jussi Mikkola (deputy Laura Koivisto) were elected in September 2021 and their term of office lasts until the end of the Annual General Meeting 2024. The Board members elected by Anora’s employees receive a meeting fee, as determined by the Board of Directors in accordance with said agreement on employee participation.

Auditor

In accordance with the recommendation by the Audit Committee, the Annual General Meeting re-elected PricewaterhouseCoopers Oy as the company’s auditor for a term that ends at the close of the next Annual General Meeting. PricewaterhouseCoopers Oy has informed the company that Authorized Public Accountant Ylva Eriksson continues as the auditor in charge. The meeting decided that the auditor’s fees be paid against an invoice approved by the company.

Authorization of the Board of Directors to resolve on the repurchase of the company’s own shares

In accordance with the proposal of the Board of Directors, the Annual General Meeting authorized the Board of Directors to resolve on the repurchase of the company’s own shares.

The number of shares to be repurchased by virtue of the authorization shall not exceed 6 755 362 shares in aggregate, which corresponds to approximately 10.0 percent of all the company’s shares at the time of the proposal, subject to the provisions of the Finnish Companies Act on the maximum amount of shares owned by the company or its subsidiaries.

The shares may be repurchased in one or several instalments and either through a tender offer made to all shareholders on equal terms or in another proportion than that of the existing shareholdings of the shareholders in the company in public trading at the prevailing market price. The shares would be repurchased with funds from the company’s unrestricted shareholders’ equity.

The shares may be repurchased for the purpose of improving the company’s capital structure, to finance or carry out corporate acquisitions or other arrangements, for incentive arrangements and remuneration schemes or to be retained by the company as treasury shares, transferred, cancelled or for other purposes resolved by the Board of Directors.

The Board of Directors is authorized to resolve on all other terms and conditions regarding the repurchase of the company’s own shares. The authorization is valid until the close of the next Annual General Meeting, however, no longer than until 30 June 2023.

Authorization of the Board of Directors to resolve on the issuance of shares for the purposes of financing or carrying out corporate acquisitions or other arrangements

In accordance with the proposal of the Board of Directors, the Annual General Meeting authorized the Board of Directors to resolve on the issuance of shares in one or several tranches, against or without consideration. The Board of Directors may resolve to issue either new shares or issue treasury shares held by the company.

The number of shares to be issued based on this authorization shall not exceed 6 755 362 shares in aggregate, which corresponds to approximately 10.0 percent of all of the company’s shares at the time of the proposal. The authorization may be used to improve the company’s capital structure, to finance or carry out corporate acquisitions or other arrangements or for other purposes resolved by the Board of Directors.

The Board of Directors is authorized to resolve on all other terms and conditions regarding the issuance of shares. The issuance of shares may be carried out in deviation from the shareholders' pre-emptive rights (directed issue). The authorization is valid until the close of the next Annual General Meeting, however, no longer than until 30 June 2023.

Authorization of the Board of Directors to resolve on the issuance of shares for remuneration purposes

In accordance with the proposal of the Board of Directors, the Annual General Meeting authorized the Board of Directors to resolve on the issuance of shares in one or several tranches, against or without consideration. The Board of Directors may resolve to issue either new shares or issue treasury shares held by the company.

The number of shares to be issued based on this authorization shall not exceed 1 351 072 shares in aggregate, which corresponds to approximately 2.0 percent of all of the company’s shares at the time of the proposal. The authorization may be used for incentive arrangements and remuneration schemes.

The Board of Directors is authorized to resolve on all other terms and conditions regarding the issuance of shares. The issuance of shares may be carried out in deviation from the shareholders' pre-emptive rights (directed issue). The authorization is valid until the close of the next Annual General Meeting, however, no longer than until 30 June 2023.

Minutes of the meeting

The minutes of the Annual General Meeting will be available as of 25 May 2022 at the latest on Anora’s website at: www.anora.com/en/investors.

Decisions by Anora’s Board of Directors

Anora’s Board of Directors have elected members of the Audit, Human Resources and Integration Committees as follows:

  • Audit Committee (permanent): Jyrki Mäki-Kala (Chairperson), Christer Kjos, Annareetta Lumme-Timonen and Sanna Suvanto-Harsaae
  • Human Resources Committee (permanent): Michael Holm Johansen (Chairperson), Kirsten Ægidius, Ingeborg Flønes and Torsten Steenholt
  • Integration Committee (temporary): Michael Holm Johansen (Chairperson) and Sanna Suvanto-Harsaae

The Board of Directors has assessed that all members of the Board of Directors, with the exceptions of Ingeborg Flønes, Arne Larsen and Jussi Mikkola, are independent of the company. Ingeborg Flønes is the CEO of Hoff SA, and Arne Larsen and Jussi Mikkola are employed by the Anora Group. Furthermore, all members of the Board of Directors, with the exception of Christer Kjos and Annareetta Lumme-Timonen, are independent of the company’s significant shareholders. Christer Kjos is the CEO of Canica Holding AG and Annareetta Lumme-Timonen is an Investment Director for Solidium Oy.

ANORA GROUP PLC

Further information:

Thomas Heinonen, General Counsel

Contacts:

Tua Stenius-Örnhjelm, Investor Relations, tel. +358 40 748 8864

Distribution:

Nasdaq Helsinki Ltd

Principal media

www.anora.com

Anora is a leading wine and spirits brand house in the Nordic region and aglobalindustry forerunner in sustainability. Our market-leading portfolio consists of our own iconic Nordic brands and a wide range of prominent international partner wines and spirits. We export to over 30 markets globally. Anora Group also includes Anora Industrial and logistics company Vectura. In 2021, Anora’s pro forma net sales were EUR 665 million and the company employs about 1,100 professionals. Anora’s shares are listed on Nasdaq Helsinki.

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