Decisions of the annual general meeting and Board of Directors of Merus Power Plc, March 13, 2024
Company bulletin, Merus Power Plc, March 13, 2024 at 16:30
Matters to be resolved in the annual general meeting
The annual general meeting of Merus Power Plc (hereinafter “the Company”) was held today on March 13, 2024 in Tampere.
The general meeting adopted the annual accounts for the 2023 and granted a discharge form liability to the Board members and CEO.
The general meeting approved the proposed Remuneration Report for 2023.
As proposed by the Board, the meeting resolved that the loss in the financial statements shall be recorded on the profit and loss account and dividends shall not be distributed.
The number of Board members was resolved as four. As Board members were re-elected Anne Koutonen, Vesa Riihimäki and Vesa Sadeharju and as a new Board member Tapani Kiiski. The chairman was not appointed by the general meeting and the Board will elect the chairman from among the members.
The general meeting resolved the annual remuneration for the Board members to be amount of EUR 36 000 for the chairman and amount of EUR 24 000 for each of the other members. Furthermore, the meeting resolved that the travel expenses of the Board members would be reimbursed in accordance with the company’s travel policy.
The audit firm Moore Idman was re-elected as the auditor for the term ending at the end of the next annual general meeting. Moore Idman Oy has appointed APA Jukka Lahdenpää to continue as the key audit partner. The general meeting resolved the auditor’s fees to be paid based on invoices approved by the company.
Other resolutions of the general meeting
In accordance with the proposal by the Board, the general meeting authorized the Board to resolve on the share issue and the issue of special rights pursuant to Chapter 10, Section 1 of the Companies Act as follows:
The Board is authorized to resolve on the issue of a maximum of 600 000 shares as a share issue or by issuing special rights entitling to shares according to the Section 1 of Chapter 10 of the Companies Act, in one or more stages during the authorization is valid.
The Board may resolve all of the terms of the share issue and/or issue of special rights entitling to shares. The share issue and issue of special rights entitling to shares may also depart from the normal subscription rights of the shareholders (directed share issue).
The authorization will expire at the end of the next annual general meeting and June 30, 2025 at the latest and it shall cancel all previous unexercised authorizations concerning the issue of shares and special rights entitling to shares.
Further the general meeting resolved on the change of the articles of the association by adding Ylöjärvi as an applicable venue for a general meeting and correspondingly removing Nokia as such. The change relates to the transfer of the headquarters of the company from Nokia to Ylöjärvi.
Minutes of the general meeting
The minutes of the general meeting are available on the website on 27.3.2024 latest.
Election of the Chairman of the Board of Directors
Merus Power Plc’s Board of Directors held its organizing meeting after the Annual General Meeting on 13 March 2024. In the organizing meeting, the Board of Directors elected Vesa Sadeharju as the Chairman of the Board of Directors.
Merus Power Plc
Board of Directors
Additional information:
Kari Tuomala, CEO, kari.tuomala@meruspower.com, +358 20 735 4320
Jonna Kannosto, Head of Marketing & Communications, jonna.kannosto@meruspower.com, +358 44 357 8320
Aktia Alexander Corporate Finance Oy, Certified Advisor, +358 50 520 4098
Distribution:
Nasdaq Helsinki Oy
Key media
Merus Power in brief:
Merus Power is a technology company that enables a sustainable and energy-efficient future. We design and manufacture innovative electrical engineering solutions, such as energy storages, power quality solutions and services for renewable energy and industrial needs. With our scalable technology, we enable the growth of renewable energy in electric grids and improve the energy efficiency of society. We are a domestic innovative electrical engineering specialist and operate in global and fast-growing markets. Our personnel represent internationally respected engineering expertise. Our turnover in 2023 was EUR 29.0 million and our stock trading symbol on the Nasdaq First North Growth Market Finland is MERUS. www.meruspower.com.
The original of this document has been made in Finnish. In case of any discrepancy, the Finnish version will prevail.