Shareholders’ proposals to the Annual General Meeting regarding the number of members and composition of the Board of Directors of NoHo Partners Plc
Photo_Yrjo_Narhinen
Photo_Kai_Seikku
NoHo Partners Plc
STOCK EXCHANGE RELEASE 28 March 2022 at 8:30
Shareholders’ proposals to the Annual General Meeting regarding the number of members and composition of the Board of Directors of NoHo Partners Plc
Shareholders representing approximately 49.2% of all shares and votes in NoHo Partners Plc have submitted a proposal to the Annual General Meeting to be held on 27 April 2022 regarding the number of members and composition of the Board of Directors.
Proposal regarding the number of members of the Board of Directors
Shareholders representing approximately 49.2% of all shares and votes in NoHo Partners Plc have reported that they will propose to the Annual General Meeting that six (6) members be elected to the Board of Directors.
Proposal regarding the composition of the Board of Directors
The above-mentioned shareholders have additionally reported proposing that Timo Laine, Mika Niemi, Petri Olkinuora and Mia Ahlström be re-elected as members of the Board of Directors for a term of office ending at the close of the next Annual General Meeting. Of the current members of the Board of Directors, Tomi Terho and Saku Tuominen have announced that they will not be available for re-election.
The same shareholders propose that Yrjö Närhinen and Kai Seikku be elected as new members of the Board of Directors. The shareholders consider the proposed persons to be independent of the company and its major shareholders.
Yrjö Närhinen (b. 1969, B.Sc. (Econ.)) acts currently, for example, as the Chairman of the Board of Stockholm-listed Ambean and Senior Advisor to the EQT and Norvestor investment organisations. Previously, Närhinen has served as the CEO of Terveystalo Oyj, CEO of Oy Hartwall Ab, the member of the global Executive Team of Scottish & Newcastle and has held several international management positions at Procter & Gamble.
Kai Seikku (b. 1965, M.Sc. (Econ.)) is the CEO of Okmetic Oy, the Deputy CEO at National Silicon Industry Group listed on the Shanghai Stock Exchange STAR Market and a Board member, for example, at Soitec SA listed on the Paris (Euronext) Stock Exchange. Previously, Seikku has worked as the CEO of HKScan Plc and Hasan & Partners and as a consultant for The Boston Consulting Group.
“NoHo Partners' strategy is to become the leading restaurant company in Northern Europe in the future. With the proposed members of the Board of Directors, the objective is to further strengthen the company's experience and strategic expertise in international consumer business. The experience in the international service and branding business brought with them by Yrjö and Kai is a significant addition to the company's internationalisation goals. I would also like to thank Tomi and Saku for their valuable contribution to the story of NoHo Partners and the work of the Board of Directors over the past three years,” says Timo Laine, the Chairman of the Board of Directors.
In addition, the aforementioned shareholders propose that Timo Laine be elected as Chairman of the Board of Directors and Yrjö Närhinen as Vice-Chairman.
All of the proposed individuals have accepted their nomination to the positions in question. The new members proposed for election to the Board of Directors are presented in more detail on the company’s website at www.noho.fi/en/proposed-members-of-the-board-of-directors-2022.
The proposed members of the Board of Directors have informed the company that if they are elected, they will establish an Audit Committee, electing Kai Seikku as its Chairman, and a Nomination and Remuneration Committee, electing Yrjö Närhinen as its Chairman. The decision to establish committees and appoint their chairs is conditional on the resolution of the Annual General Meeting on the composition of the Board of Directors.
The above-mentioned proposals will be included in the notice to the Annual General Meeting, which will be published separately.
Photos of Yrjö Närhinen and Kai Seikku are attached to this stock exchange release.
Additional information:
Timo Laine, Chairman of the Board, NoHo Partners Plc, tel. +358 40 062 6064
Distribution:
Nasdaq Helsinki
Major media
www.noho.fi/en
NoHo Partners Plc is a Finnish group established in 1996, specialising in restaurant services. The company, which was listed on NASDAQ Helsinki in 2013 and became the first Finnish listed restaurant company, has continued to grow strongly throughout its history. The Group companies include some 250 restaurants in Finland, Denmark and Norway. The well-known restaurant concepts of the company include Elite, Savoy, Teatteri, Stefan’s Steakhouse, Palace, Löyly, Hanko Sushi, Friends & Brgrs and Cock’s & Cows. Depending on the season, the Group employs approximately 2,100 people converted into full-time employees. The company aims to achieve a turnover of approximately MEUR 400 by the end of 2024. The company’s vision is to be the leading restaurant company in Northern Europe.
