Decisions of Wetteri Plc’s Annual General Meeting

Wetteri Plc   Stock exchange release   22 May 2024 at 5.30 pm

Wetteri Plc’s Annual General Meeting (AGM) adopted the financial statements for 2023 and discharged the Board of Directors and the CEO from liability. In accordance with the Board of Directors’ proposal, the AGM decided that no dividend would be paid for the financial year that ended on 31 December 2023.

The AGM confirmed that the Board would consist of six members. Markku Kankaala, Martti Haapala, Mikael Malmsten, Satu Mehtälä, Hannu Pärssinen and Aarne Simula were re-elected as members of the Board. PricewaterhouseCoopers Oy continues as the company’s auditor, with Sami Posti, APA, as the principal auditor. The AGM decided, that PricewaterhouseCoopers Oy is selected as the company's sustainability reporting certifier, and that KHT, KRT Tiina Puukkoniemi be the main responsible sustainability reporting certifier.

The AGM decided that each member of the company’s Board of Directors would be paid a fee of EUR 3,000 per month, and that the Chair of the Board would be paid a fee of EUR 5,500 per month. No separate meeting fees will be paid. By decision of the AGM, the Chairs of committee meetings will be paid a fee of EUR 500 per meeting, and the members of the committees will be paid a fee of EUR 300 per meeting.

The AGM authorised the Board of Directors to decide on share issues, including the right to issue new shares or transfer shares held by the company, and on the issue of option rights and other special rights entitling their holders to shares. Based on the authorisation, a maximum of 70,000,000 new shares or shares held by the company can be issued in one or more instalments. This represents around 44,5 of the company’s current shares. The authorisation replaces previous authorisations and is valid for one year from the decision of the AGM.

Based on the authorisation granted by the AGM, the Board of Directors has the right to decide on share issues and the issue of option rights and other special rights entitling their holders to shares, and on the terms and conditions of such issues. The Board may use the authorisation to finance and enable acquisitions or other business arrangements and investments, for example, or to provide personnel with incentives or encourage them to commit to the company. Based on the authorisation, the Board may decide on share issues against payment and share issues without payment, and consideration other than cash may also be used as payment for the subscription price. The authorisation includes the right to decide on deviation from the shareholders’ pre-emptive right if the conditions laid down in the Limited Liability Companies Act are met.

Further information:

Aarne Simula, CEO, Wetteri Plc

Tel. +358 400 689 613, aarne.simula@wetteri.fi

Panu Kauppinen, CFO, Wetteri Plc

Tel. +358 44 236 3740, panu.kauppinen@wetteri.fi

Wetteri Plc – an entrepreneur-driven growth company in the automotive sector

Wetteri Plc is an entrepreneur-driven growth company in the automotive sector. The company engages in the retail sales of passenger cars, commercial vehicles and heavy vehicles, and produces maintenance and repair shop services for vehicles, from passenger cars to heavy vehicles. Headquartered in Oulu, the company has 49 locations in Finland. The company employs nearly 1,000 people, of whom around 70% work in maintenance and repair services. Wetteri promotes digitalisation in the automotive sector and is an important player on the common journey towards emission-free motoring. More information: sijoittajat.wetteri.fi/en/