2020-08-06 12:25:00 CEST

2020-08-06 12:25:00 CEST


REGULATED INFORMATION

English
Glaston Oyj Abp - Changes board/management/auditors

GLASTON CORPORATION TO CONVENE AN EXTRAORDINARY GENERAL MEETING TO COMPLEMENT THE BOARD OF DIRECTORS IN ACCORDANCE WITH THE PROPOSAL OF THE NOMINATION BOARD


GLASTON CORPORATION    STOCK EXCHANGE RELEASE   6 AUGUST 2020 AT 13.25

The Board of Directors of Glaston Corporation (“Glaston” or “Company”) has
decided, following consultation with the Nomination Board of the Company, to
convene an Extraordinary General Meeting to elect a new member of the Board of
Directors to complement the current Board of Directors. The Extraordinary
General Meeting is planned to be held on 4 September 2020. Notice to the General
Meeting will be published separately.

The Nomination Board of the Company has prepared the following proposal for a
new member of the Board of Directors:

Proposal for the composition of the Board of Directors

The Nomination Board of Glaston Corporation, representing in aggregate more than
50 per cent of the shares and votes of the Company, proposes to the
Extraordinary General Meeting that the number of the members of the Board of
Directors would resolved to be eight (8), and that Veli-Matti Reinikkala would
be elected as a new member of the Board of Directors, in addition to the current
members of the Board of Directors, until closing of the Annual General Meeting
2021.

Veli-Matti Reinikkala (b. 1957), Executive Master of Business Administration,
serves in the Board of Directors of Fortum Corporation and UPM-Kymmene
Corporation. Veli-Matti Reinikkala has served in various managerial positions at
ABB Group including Switzerland, China and the US during the years 1993–2015.
Prior to his transition to ABB, Veli-Matti Reinikkala worked for Finnish paper
and packaging companies in Finland, UK and Canada. Veli-Matti Reinikkala is a
Finnish citizen and independent of the Company and its significant shareholders.

Veli-Matti Reinikkala has given his consent for the election. More information
on the nominee is available on Glaston Corporations’s website www.glaston.net.

Teuvo Salminen, the Chairman of the Board of Directors of Glaston Corporation,
has indicated to the Nomination Board of the Company that he is not available
for re-election at the Annual General Meeting in spring 2021. According to the
Company’s Articles of Association, the Board of Directors elects the Chairman of
the Board of Directors amongst themselves. Therefore, the Nomination Board
recommends that the Board of Directors would elect amongst themselves Veli-Matti
Reinikkala as the Chairman of the Board of Directors for the term of office
starting after the Annual General Meeting 2021 at the latest.

“We are very happy to be able to propose Veli-Matti Reinikkala a new member of
the Board of Directors of Glaston Corporation. At this point, election of a new
Board member strengthens the continuity of Board work as Teuvo Salminen, the
current Chairman of the Board of Directors, has indicated that he is not
available for re-election”, comments Lasse Heinonen, Chairman of the Nomination
Board.

Nomination Board

The Nomination Board consists of the representatives of the four largest
shareholders and also, as an expert member, the Chairman of the Board of
Directors of Glaston Corporation. Based on the ownership situation on 1
September 2019, Glaston’s Nomination Board consists of the following members:
Lasse Heinonen, Chairman (nominated by AC Invest Eight B.V.), Jaakko Kurikka
(nominated by Hymy Lahtinen Oy), Pekka Pajamo (nominated by Varma Mutual Pension
Insurance Company) and Esko Torsti (nominated by Ilmarinen Mutual Pension
Insurance Company).

GLASTON CORPORATION



For further information, please contact:

Teuvo Salminen, Chairman of the Board of Directors of Glaston Corporation, tel.
+358 400420285
Lasse Heinonen, Chairman of Glaston Corporation’s Nomination Board, tel. +358
(0)10 888 4450

Glaston Corporation
Glaston is the glass processing industry’s innovative technology leader
supplying equipment, services and solutions to the architectural, automotive,
solar and appliance industries. The company also supports the development of
emerging technologies integrating intelligence to glass.

As of April 2019, Bystronic glass is part of Glaston Group. Together we are
committed to providing our clients with both the best know-how and the latest
technologies in glass processing, with the purpose of building a better tomorrow
through safer, smarter, and more energy efficient glass solutions. We operate
globally with manufacturing, services and sales offices in 11 countries.
Glaston’s shares (GLA1V) are listed on NASDAQ Helsinki Ltd.

Distribution: Nasdaq Helsinki Ltd, key media, www.glaston.net