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Lassila & Tikanoja Plc
Stock Exchange Release
12 January 2022, 2 pm
Lassila & Tikanoja’s Shareholders’ Nomination Board submits proposals for the 2022 Annual General Meeting
Lassila & Tikanoja’s Shareholders’ Nomination Board, established by the Annual General Meeting on 12 March 2020, submits the following proposals to the Annual General Meeting to be held on 17 March 2022. The proposals will also be included in the notice of the 2022 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, Laura Tarkka and Pasi Tolppanen are elected to the Board of Directors from among the current members.
The Chairman of the Board of Directors, Heikki Bergholm, has announced that he 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. The members of the Board of Directors will elect a chairman and vice-chairman from their number. The candidates have informed the company that if they are elected, they will elect Jukka Leinonen as Chairman of the Board of Directors and Sakari Lassila as Vice Chairman.
With regard to the procedure for the selection of the members of the Board of Directors, the Shareholders’ Nomination Board recommends that the shareholders give their view on the proposal as a whole at the Annual General Meeting. The Nomination Board has estimated that in addition to the qualifications of the individual candidates for the Board of Directors, the proposed Board of Directors as a whole provides excellent competence and experience for the company and that the composition of the Board of Directors also meets other requirements set for a listed company by the Corporate Governance Code.
The members of the Board of Directors are presented on Lassila & Tikanoja’s website at www.lt.fi/en/company/management-and-board-of-directors/board-of-directors
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’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 Lassila & Tikanoja plc’s interim report for the first quarter of 2022.
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 Heikki Bergholm (Chairman of the Board of Directors of Lassila & Tikanoja plc).
12 January 2022
LASSILA & TIKANOJA PLC
Sirpa Huopalainen, General Counsel, tel. +358 40 5965241
Lassila & Tikanoja is a service company that makes circular economy a reality. Together with our customers, we keep materials, properties and factories in productive use for as long as possible and we enhance the use of raw materials and energy. We help our customers maintain the value of their properties and materials while protecting the environment. We achieve this by delivering responsible and sustainable service solutions that make the daily lives of our customers easier. With operations in Finland and Sweden, L&T employs 8,100 people. Net sales in 2020 amounted to EUR 751.9 million. L&T is listed on Nasdaq Helsinki.