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2009-08-13 15:00:00 CEST 2009-08-13 15:00:01 CEST REGULATED INFORMATION Uponor - Company AnnouncementUponor nomination committee re-establishedUponor Corporation Investor information 13 August 2009 Uponor nomination committee re-established The Board of Directors of Uponor Corporation resolved on 29 April 2009 to re-establish the Nomination Committee and to ask the three main shareholders (as per 31 July 2009) to appoint each one member to the nomination committee. According to the shareholding situation on 31 July 2009, the three biggest shareholders and their nominees are: Oras Invest Oy - Mr. Pekka Paasikivi Mutual Pension Insurance Company Varma - Mr. Risto Murto Mandatum Life Insurance Company - (declined to nominate) The Board of Directors further nominated its chairman, Mr. Jari Paasikivi as an expert member of the nomination committee. The members shall elect the chairman from amongst themselves. Uponor will thus deviate from the Finnish Corporate Governance Code recommendation. Taking the company's ownership structure into account, the Board's view is that a model in which the largest shareholders nominate the members of the nomination committee will best serve the interests of the shareholders as well as the goal of transparency. The Board appointed the Audit Committee in April, and further resolved that no separate remuneration committee will be established while the Board will continue to fulfil the duties of the remuneration committee. Tarmo Anttila Vice President, Communications Tel. +358 20 129 2852 DISTRIBUTION: NASDAQ OMX Helsinki Media www.uponor.com Uponor is a leading supplier of plumbing and heating systems for the residential and commercial building markets across Europe and North America and a market leader in municipal infrastructure pipe systems in the Nordic countries. Uponor's key applications include indoor climate and tap water systems. The Group employs ca 3,800 persons in 27 countries. In 2008, Uponor's net sales totalled 950 million euros. Uponor Corporation is listed on the NASDAQ OMX Helsinki Ltd., Finland. http://www.uponor.com |
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