Suominen Oyj - Changes in company's own shares

The portion of the annual remuneration of the members of the Board of Directors of Suominen Corporation which shall be paid in shares - transfer of own shares held by the company

Helsinki, Finland, 2016-06-02 10:30 CEST (GLOBE NEWSWIRE) -- Suominen
Corporation   Stock Exchange Release  2 June 2016 at 11:30 am (EEST) 

The portion of the annual remuneration of the members of the Board of Directors
of Suominen Corporation which shall be paid in shares – transfer of own shares
held by the company 

The Annual General Meeting (AGM) of Suominen Corporation held on 16 March 2016
resolved on the following annual remuneration payable to the members of the
Board of Directors for the year 2015: Chair EUR 50,000, Deputy Chair EUR 37,500
and other members EUR 28,000. Further, it was decided that 40% of the annual
remuneration shall be paid in shares of Suominen Corporation. 

In accordance with the resolution by the AGM, the number of shares forming the
above-mentioned remuneration portion payable in shares will be determined based
on the share value in the stock exchange trading maintained by Nasdaq Helsinki
Ltd, calculated as the trade volume weighted average quotation of the share
during the one month period immediately following the date on which the interim
report of January–March 2016 of the company is published. The shares will be
given out of the treasury shares held by the company through the decision of
the Board of Directors by 3 June 2016 at the latest. 

Based on the above, the aggregate number of shares to be transferred to the
members of the Board of Directors as their remuneration payable in shares is
20,799 shares. The value of the transferred shares totals EUR 79,793 or
approximately EUR 3.83638 per share. These shares have been granted out of the
Company’s treasury shares today, 2 June 2016, based on the decision taken by
the Board of Directors. The resolution was based on the AGM’s authorization for
the Board of Directors to decide on a share issue. Since the decision taken by
the Board of Directors was essentially an execution of a detailed resolution
taken by the AGM, the Board did not exercise independent discretion when it
decided on the transfer of the shares. The transferred shares are of the same
class as the company’s other shares. 

The company held 913,886 treasury shares before the above-mentioned transfer of
shares. The aggregate number of shares transferred to the members of the Board
of Directors today was 20,799. After the share transfer, Suominen Corporation
holds 893,087 treasury shares. 

SUOMINEN CORPORATION
Board of Directors

For further information, please contact: Tapio Engström, Senior Vice President,
CFO, Suominen Corporation, tel. +358 10 214 300 


Distribution:
Nasdaq Helsinki
Key media
www.suominen.fi

Suominen in brief

Suominen manufactures nonwovens as roll goods for wipes as well as for medical
and hygiene products. The end products made of Suominen’s nonwovens – wet
wipes, feminine care products and swabs, for instance – bring added value to
the daily life of consumers worldwide. Suominen is the global market leader in
nonwovens for wipes and employs over 600 people in Europe and in the Americas.
Suominen’s net sales in 2015 amounted to EUR 444.0 million and operating profit
excluding non-recurring items to EUR 31.2 million. The Suominen share (SUY1V)
is listed in Nasdaq Helsinki Stock Exchange (Mid Cap). Read more at
www.suominen.fi.