The Extraordinary General Meeting held on Tuesday 10 March 2020 resolved to disband the Shareholders’ Nomination Committee.
The General Meeting of Shareholders of Cramo Plc, held on 31 March 2015, resolved to establish a Shareholders’ Nomination Committee for an indefinite period, in accordance with the proposal of the company’s Board of Directors. The Committee prepares annually proposals to the Annual General Meeting for the election and remuneration of the members of the Board of Directors.
The duties of the Nomination Committee include:
- to prepare and present to the Annual General Meeting a proposal on the number of the members of the Board of Directors;
- to prepare and present to the Annual General Meeting a proposal on the remuneration of the members of the Board of Directors for their work both at the Board of Directors and at the Board committees;
- to prepare and present to the Annual General Meeting a proposal on the members of the Board of Directors; and
- to present the charter of the Nomination Committee to the Annual General Meeting annually for approval.
The Nomination Committee consists of maximum four members, of which maximum three represent the Company’s largest shareholders who, on the last business day of August preceding the next Annual General Meeting, hold the largest number of votes calculated of all shares in the Company. The largest shareholders of the Company on the last business day of August are determined on the basis of the shareholders’ register of the Company held by Euroclear Finland Ltd. Pursuant to this shareholding, the Chairman of the Board of Directors shall request the three largest shareholders of the Company each to nominate one member to the Nomination Committee. Should a shareholder not wish to use its nomination right, the right may be transferred by the Chairman of the Board of Directors to the next largest shareholder who would otherwise not have a nomination right. The Chairman of the Board of Directors shall be a member of the Nomination Committee. The term of office of the members of the Nomination Committee expires annually when the new Nomination Committee has been appointed.
The composition of Cramo Plc’s Shareholders’ Nomination Committee as from 28 November 2019 is following:
- Fredrik Åtting, nominated by EQT Fund Management S.à r.l
- Ari Autio, nominated by Rakennusmestarien Säätiö
- Annika Ekman, nominated by Ilmarinen Mutual Pension Insurance Company
- Veli-Matti Reinikkala, Chairman of the Board, Cramo Plc
The Shareholders’ Nomination Committee has elected Fredrik Åtting as the Chairman of the Committee. Read the release.