Aktia Pankki Oyj - Other information disclosed according to the rules of the Exchange

Aktia Bank prepares simplification of the company’s administration structure

Aktia Bank plc
Stock Exchange Release
31/01/2017 at 3 pm



Aktia Bank will reconsider the current administration model in which a Board of
Supervisors is included. 

The Chairman of the Board of Supervisors, Håkan Mattlin, was instructed by the
Annual General Meeting 2016 to look into whether the current administration
model, including the Board of Supervisors, is appropriate from a shareholder
perspective. Mattlin has now reported back to the bank’s Board of Directors,
and the Board has decided to proceed with preparations to replace the Board of
Supervisors with a Representative Assembly without formal legal status
according to company laws and without decision-making right. The responsibility
to appoint the bank’s Board of Directors would then be transferred from the
Board of Supervisors to the Annual General Meeting, and the appointments would
be prepared by a Nomination Committee. 

The phasing out of the Board of Supervisors would simplify the bank’s
administration structure, increase transparency in the administration and
generate cost savings. 

The planned schedule for transition to a simplified administration model is
September 2017, when the bank aims to hold an extraordinary Annual General
Meeting to decide on changes in the articles of association. 

The Board of Supervisors played an important role in the bank’s development
from local savings banks to a corporate bank and further to the listed company
Aktia Bank. Increased regulation in the financial sector set stricter
requirements on the Board of Supervisor’s monitoring of business operations, 
as well as on its members’ competence, disclosure of transactions, subsequently
increasing the members’ personal responsibility.  Due to this combined with the
fact that one of the focus areas in Aktia’s strategy Growth 2018 is to create
an effective and competent organisation, the Board of Directors now want to
reconsider the bank’s administration model. 



AKTIA BANK PLC



For more information, please contact
Dag Wallgren, Chairman of the Board of Directors, tel. +358 40 522 4648
Håkan Mattlin, Chairman of the Board of Supervisors, tel. +358 50 045 9059



From:
Mia Bengts, Director, HR and Group Legal, tel. +358 10 247 6348, +358 50 308
7676