Efore - Other information disclosed according to the rules of the Exchange

Members of Efore Plc’s Shareholders’ Nomination Board have been appointed

 

EFORE PLC   Stock Exchange Release   September 22, 2017  at 9.30   


The Annual General Meeting of Efore Plc that was held on 5 April 2017 resolved to establish a Shareholders' Nomination Board. The Nomination Board’s duties include preparing proposals in relation to the election and remuneration of the members of the Board of Directors to the General Meeting.

The following shareholders of Efore Plc have appointed the following members to the Nomination Board in accordance with the Charter of the Nomination Board:
- Jussi Capital Oy: Jarkko Takanen
- The Rausanne Group: Jari Suominen
- Jaakko Heininen and related parties: Jaakko Heininen

The Shareholders’ Nomination Board will be convened by Tuomo Lähdesmäki, Chairman of the Board of Directors.

The Nomination Board shall give its proposal to the Board of Directors of the Company by 31 January 2018.

According to the Charter of the Nomination Board, the Nomination Board shall consist of four (4) members, three (3) of which shall be appointed by the company’s three (3) largest shareholders, who shall be entitled to nominate one member each. The Chairman of the Board of Directors shall serve as the fourth member.

The company’s largest shareholders shall be determined on the basis of the registered holdings in the company’s shareholder register held by Euroclear Finland Ltd as of the first working day in September. If a shareholder makes a written request to such effect to the Board of Directors no later than on the last working day of August, such shareholder’s holdings in several funds or registers will be combined when calculating the share of votes which determines the nomination right. As regards individual persons as shareholders, their direct ownership and ownership of corporations over which he/she exercises control as well as ownership of his/her spouse and children, will be taken into account in the determination. In case two shareholders own an equal number of shares and votes and the representatives of both such shareholders cannot be appointed to the Nomination Board, the decision shall be made by drawing lots.

If a holder of nominee registered shares wishes to use his/her right to nominate, they shall present a reliable account of the number of shares in their ownership by the last working day of August in the year preceding the Annual General Meeting. The account shall be submitted to the Chairman of the Board of Directors on the fourth working day of September, at the latest.

The Chairman of the Board of Directors shall request each of the three largest shareholders, as defined above, to appoint one member to the Nomination Board. In the event that a shareholder does not wish to exercise his or her right to appoint a representative, it shall pass to the next largest shareholder who would not otherwise be entitled to appoint a member to the Nomination Board. The Nomination Board shall elect a Chairman from among its members, and the Nomination Board convenes thereafter at the notice of the Chairman of the Nomination Board.

The members shall be nominated annually and their term of office shall end when new members are nominated to replace them.

EFORE PLC

Jorma Wiitakorpi
President and CEO

For further information please contact Jorma Wiitakorpi, President and CEO, tel. +358 40 175 8510.

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Nasdaq Helsinki Oy
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Efore Group

Efore is an international Group which develops and produces demanding power products. Efore's head office is based in Finland and its R&D functions are located in Finland, Sweden, Italy and China. Sales and marketing operations are located in Europe, United States and China. In the financial year ending in December 2016, consolidated net sales totalled EUR 75.4 million and the Group's personnel averaged 679. The parent company's share is quoted on the Nasdaq Helsinki Ltd.www.efore.com