YIT Corporation Stock Exchange Release
Proposals of the Shareholders' Nomination Board to the Annual General Meeting
The Shareholders' Nomination
Number of members of the Board of Directors
The Nomination Board proposes that a Chairman, a Vice Chairman and five (5) ordinary members be elected to the Board of Directors.
Fees of the Chairman, Vice Chairman and members of the Board of Directors
The Nomination Board proposes that the members of the Board of Directors be paid the following fixed annual fees for the term of office ending at the conclusion of the next Annual General Meeting:
- Chairman of the Board:
EUR 105,000 , -
Vice Chairman of the Board and Chairmen of the permanent Committees:
EUR 73,500 , unless the same person is Chairman of the Board or Vice Chairman of the Board and -
Members:
EUR 52,500 .
In addition, the Shareholders' Nomination Board proposes that the annual remuneration for the members of the Board of Directors shall be paid in Company shares so that 40% of the annual fee is paid in
It is recommended by the Nomination Board that members of the Board of Directors do not transfer the shares awarded to them as a fixed annual fee until their term on the Board expires.
The Nomination Board views that long-term oriented and increasing share ownership by the members of the Board of Directors benefits all shareholders.
It was further decided to propose to the Annual General Meeting that in addition to the fixed annual fee, the members of the Board and its permanently and temporarily appointed committees living in
It is also proposed that the chairman of the Board and the chairmen of the permanent and temporarily appointed committees are be paid a meeting fee of
In addition, it was decided to propose to the general meeting that the members of the Shareholders' Nomination Board, including the expert member, be paid a meeting fee of
Proposal for Chairman, Vice Chairman and members of the Board of Directors
The Nomination Board proposes to the Annual General Meeting that
With regard to the selection procedure for the members of the Board of Directors, the Nomination Board recommends that shareholders take a position on the proposal as a whole at the Annual General Meeting. In preparing its proposals the Nomination Board, in addition to ensuring that individual nominees for membership of the Board of Directors possess the required competences, has determined that the proposed Board of Directors as a whole also has the best possible expertise for the company and that the composition of the Board of Directors meets other requirements of the Finnish Corporate Governance Code for listed companies.
The present members of the Board Eero Heliövaara,
All candidates have consented to being elected and are independent of the company or its major shareholders. Essential information regarding the proposed persons will be published on the YIT website at https://www.yitgroup.com/nominationboard.
Shareholders' Nomination Board
YIT Corporation's Annual General Meeting held on
YIT Corporation's three largest shareholders according to
Alexander Ehrnrooth , CEO,Tercero Invest AB , 17.38% of shares and votes-
Juhani Mäkinen, Counsellor of Law, the shareholder group
PNT Group Oy ,Noora Pentti ,Fideles Oy ,Eva Pentti-Kortman ,Kristian Pentti andKristina Pentti-von Walzel , 14.59% of shares and votes Risto Murto , President and CEO,Varma Mutual Pension Insurance Company , 5.66% of shares and votes.
The Chairman of
The Nomination Board prepares the proposals concerning Board members and Board compensation for the following Annual General Meeting.
The Board of Directors of
For further information:
Juhani Mäkinen, Chairman of the Nomination Board, tel. +358 40 500 5177
YIT Corporation
Tuomas Mäkipeska
CFO
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and a significant North European development and construction company. For 110 years, we have been creating better living environments for our customers: functional homes for sustainable living, future-proof public and commercial buildings and infrastructure for smoother flow of people, businesses and society. We employ 5,500 professionals in nine countries:
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