ROBIT PLC STOCK EXCHANGE RELEASE 16 JANUARY 2018 AT 6.15 P.M.
PROPOSALS TO ROBIT PLC’S ANNUAL GENERAL MEETING 2018
Robit Plc’s Nomination Committee proposes to the Annual General Meeting of Robit Plc, scheduled to be held on 28 March 2018, the number of the members of the Board of Directors to be confirmed six.
Composition of the Board of Directors
The Nomination Committee proposes the following current members of the Board of Directors to be re-elected for the new term of office, extending until the end of the subsequent Annual General Meeting in 2019: Tapio Hintikka, Mammu Kaario, Hannu-Kalle Reponen and Harri Sjöholm.
Matti Kotola has announced that he will no longer be available for re-election to the Board of Directors. Robit thanks Kotola for his very competent activity in the Board of Directors together with add value he has provided.
The Nomination Committee further proposes Heikki Allonen and Kai Seikku to be elected as the new members of the Board of Directors.
All proposed members of the Board of Directors have given their permission for their election.
Summary of Heikki Allonen’s, M.Sc, Eng. (born 1954) CV
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2016-, President and CEO at Hemmings Oy Ab
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2008-2016, President and CEO at Patria Oyj
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2004-2008, President and CEO at Fiskars Corporation
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Board memberships: Savox Oy (2017-), Nokian Tyres Plc (2016-), VR Group (2015-) and Detection Technology Plc (2015-)
Summary of Kai Seikku’s, M.Sc. Econ. (born 1965) CV
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2016-, EVP at National Silicon Industry Group (Shanghai, China)
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2010-, CEO at Okmetic Oy
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2005-2009, CEO at HKScan Plc
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Board memberships: Inderes Oy (2016-), Verkkokauppa.com Oyj (2013) and Technology Industries of Finland (2012-)
Remuneration of Board of Directors
The Nomination and Remuneration Committee propose the following remuneration to be paid for the Board of Directors and Committees:
The annual remuneration for the Chairman of the Board of Directors is EUR 35,000 (2017: EUR 45,000), of which 40% is paid as shares, and the remaining 60% is advance tax withheld and paid to the tax authority by the company. In addition, a compensation of EUR 500 is paid per attended meeting. Other costs such as travel and lodging expenses will also be compensated.
The annual remuneration for the Board members is EUR 30,000 (2017: EUR 30,000), of which 40% is paid as shares, and the remaining 60% is advance tax withheld and paid to the tax authority by the company. In addition, an attendance fee of EUR 500 is paid per attended meeting. Other costs such as travel and lodging expenses will also be compensated.
Members of the Board of Directors’ Working Committee will receive a monthly remuneration of EUR 750. The Chairman of the Board of Directors shall not be paid the additional Working Committee remuneration, as this remuneration is already included in his compensation stated above.
Members of the Board of Directors’ Nomination, Remuneration and Audit Committee will receive an attendance fee of EUR 500 per attended meeting.
Thus, the Board of Directors has decided to establish an Audit Committee in the company.
Election of Auditor
The Board of Directors recommends Ernst & Young to be re-elected as the company’s auditor for a term of office expiring at the end of the following Annual General Meeting and further appointing Mikko Järventausta, Authorised Public Accountant, as the company’s principal responsible auditor. The auditor’s remuneration is paid in accordance with the reasonable invoice approved by the company.
ROBIT PLC
Board of Directors
Further information:
Robit Plc
Harri Sjöholm, Chairman
+358 400 622 092
harri.sjoholm@robitgroup.com
Robit is a strongly internationalized growth company selling and servicing global customers in drilling consumables for applications in mining, construction and contracting, tunneling and well drilling. The company’s offering is divided into three product and service range: Top Hammer and Down-the-Hole products as well as Digital Services. Robit has 21 own sales and service points as well as active sales networks in 115 countries. The manufacturing units are located in Finland, South Korea, Australia, UK and USA.
Distribution:
Nasdaq Helsinki Ltd
Key media
www.robitgroup.com
