Stock exchange release
Lassila & Tikanoja plc
11 January 2023 at 10 a.m.
Lassila & Tikanoja’s Shareholders’ Nomination Board submits proposals for the 2023 Annual General Meeting
Lassila & Tikanoja’s Shareholders’ Nomination Board submits the following proposals to the Annual General Meeting to be held on 23 March 2023. The proposals will also be included in the notice of the 2023 Annual General Meeting.
Members of the Board of Directors
The Shareholders’ Nomination Board proposes the Board of Directors to have six (6) members.
The Nomination Board proposes that Teemu Kangas-Kärki, Laura Lares, Sakari Lassila, Jukka Leinonen and Pasi Tolppanen are re-elected to the Board of Directors from among its current members and Anni Ronkainen is elected as a new member. In addition, the Nomination Board proposes that Jukka Leinonen is elected as Chairman of the Board of Directors and Sakari Lassila as Vice Chairman.
Of the current members, Laura Tarkka has announced that she is no longer available for the election of the members of the Board of Directors.
All candidates have given their consent to the election and are independent of the company and its significant shareholders.
A presentation of Anni Ronkainen is available on Lassila & Tikanoja’s website at https://www.lt.fi/en/company/management-and-board-of-directors/board-of-directors. The current members of the Board of Directors are presented on the same page.
Remuneration paid to the Board of Directors
The Shareholders’ Nomination Board proposes that the remuneration of the members of the Board of Directors remains unchanged and is as follows:
– chairman, EUR 60,000 per year;
– vice-chairman, EUR 40,000 per year; and
– members, EUR 30,000 per year.
It is proposed that the fees be paid so that 40% of the annual fee is paid in Lassila & Tikanoja plc’s shares held by the company or, if this is not feasible, shares acquired from the market, and 60% in cash. Shares are to be issued to Board members and, where necessary, acquired directly from the market on behalf of Board members on the third trading day after the publication of the interim report for the first quarter of 2023.
In addition, it is proposed that the following fees be paid: EUR 1,000 per meeting to the chairman, EUR 700 per meeting to the vice chairman and EUR 500 per meeting to the other members of the Board. In accordance with the proposal, meeting fees will also be paid to the chairman and members of committees established by the Board of Directors as follows: chairman EUR 700 and ordinary members EUR 500.
The Shareholders’ Nomination Board consists of representatives appointed by the company’s three largest shareholders and the Chairman of the Board of Directors of Lassila & Tikanoja plc.
The Shareholders’ Nomination Board has consisted of Patrick Lapveteläinen (Mandatum Life Insurance Company Limited), Juhani Lassila (Evald and Hilda Nissi Foundation), Miikka Maijala (group of shareholders) and Jukka Leinonen (Chairman of the Board of Directors of Lassila & Tikanoja plc).
LASSILA & TIKANOJA PLC
Sirpa Huopalainen, General Counsel, tel. +358 40 5965241
Lassila & Tikanoja is a service company that is putting the circular economy into practice. Together with our customers, we keep materials and properties in productive use for as long as possible and we enhance the use of raw materials and energy. This is to create more value with the circular economy for our customers, personnel and society in a broader sense. Achieving this also means growth in value for our shareholders. Our objective is to continuously grow our actions’ carbon handprint, our positive effect on the climate. We assume our social responsibility by looking after the work ability of our personnel as well as offering jobs to those who are struggling to find employment, for example. With operations in Finland and Sweden, L&T employs 8,171 people. In 2021, the company’s net sales amounted to EUR 812.5 million. L&T is listed on Nasdaq Helsinki.