SRV Group Plc: Proposals of the Shareholders’ Nomination Board to the Annual General Meeting 2021

SRV GROUP PLC     STOCK EXCHANGE RELEASE     28 JANUARY 2021      09:00 EET

SRV Group Plc: Proposals of the Shareholders’ Nomination Board to the Annual General Meeting 2021

SRV Group Plc’s Annual General Meeting 2020 established a Shareholders’ Nomination Board to prepare annually proposals concerning the composition and remuneration of the Board of Directors.

SRV Group Plc’s Shareholders’ Nomination Board proposes to the Annual General Meeting of SRV Group Plc that five members will be elected to the Board of Directors.

Shareholders’ Nomination Board proposes that present members Timo Kokkila, Hannu Leinonen, Heikki Leppänen and Tomi Yli-Kyyny be re-elected as members of the Board of Directors and Heli Iisakka be elected as new member of the Board of Directors. In addition, Nomination Board proposes that Tomi Yli-Kyyny be re-elected as the Chairman of the Board of Directors.

All the nominees have given their consent to the position and they are independent of the company and of the company’s significant shareholders except for Timo Kokkila. Timo Kokkila is not independent of the company based on overall evaluation, especially considering his consecutive membership of the Board of Directors for more than 10 years. He is not independent of the company’s significant shareholder AS Pontos Baltic, as he is the CEO of AS Pontos Baltic.

Of the current members of the Board of Directors Minna Alitalo and Olli-Pekka Kallasvuo have informed that they no longer are available for re-election to the next term of the Board of Directors.

A presentation of the proposed new member Heli Iisakka is attached to this stock exchange release. The proposed current members of the Board of Directors are presented on SRV’s website: https://www.srv.fi/en/investors/cg/board-of-directors/members-board-directors/ 

Shareholders’ Nomination Board proposes that the members of the Board of Directors will be paid the following fees:

• EUR 6,000 per month for the Chairman (year 2020: EUR 5,000 per month),
• EUR 4,000 per month for the Vice Chairman (year 2020: EUR 4,000 per month),
• EUR 3,000 per month per member (year 2020: EUR 3,000 per month) and
• EUR 4,000 per month for the Chairman of the Audit Committee (year 2020: EUR 3,000 per month), if he/she does not simultaneously act as Chairman or Vice Chairman of the Board of Directors.

In addition, the Nomination Board proposes that EUR 700 fee per member per meeting for Board and Committee meetings be paid (year 2020: EUR 700). Travel expenses arising from work for the Board of Directors shall be reimbursed in accordance with the company’s travel policy.

As Chairman of the Shareholders’ Nomination Board has acted Ilpo Kokkila (Chairman of the Board of Directors, Pontos Oy) and as members Mikko Mursula (Chief Investment Officer, Ilmarinen Mutual Pension Insurance Company), Timo Ritakallio (President and Group Chief Executive Officer, OP Financial Group) and Tomi Yli-Kyyny (Chairman of the Board of Directors, SRV Group Plc).

For further information, please contact:
Ilpo Kokkila, Chairman of SRV Group Plc’s Shareholders’ Nomination Board, tel. +358 (0)400 485 555, ilpo.kokkila@pontos.fi 
Johanna Metsä-Tokila, General Counsel, tel.+358 (0)40 562 0408, johanna.metsa-tokila@srv.fi

Distribution:
Nasdaq Helsinki
Media
www.srv.fi

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SRV in brief

SRV is developer and innovator in the construction industry. We want to offer the best customer experience as a constructor of urban city centres, while also being the most attractive employer in the industry. Our genuine cooperation and enthusiasm for our work comes across in every encounter. Sustainability is reflected in all our activities.

Established in 1987, we are a publicly listed company since 2007 in Helsinki Nasdaq stock exchange that operates in growth centres in Finland and Russia. Our revenue in 2019 was EUR 1,061 million. Over 1,000 people work for us and we employ a network of almost 4,000 subcontractors in our projects.

SRV – Building for life