Resolutions of the Exel Composites Annual General Meeting 2021
EXEL COMPOSITES PLC – – – STOCK EXCHANGE RELEASE – – – 23 MARCH 2021 at 09:30 – EET
The Annual General Meeting, AGM, of Exel Composites Plc was held on 23 March 2021 in the company’s premises in Vantaa, Finland. The AGM adopted the financial statements, reviewed the Remuneration Report 2020, and discharged the members of the Board of Directors and the company’s President and CEO from liability for the financial year 2020.
In addition, the AGM adopted the following resolutions:
Dividend
The AGM decided that a dividend of EUR 0.20 per share be paid for the financial year that closed on 31 December 2020. The dividend will be paid to shareholders registered in the Company's shareholder register maintained by Euroclear Finland Ltd. on the record date for dividend payment, 25 March 2021. The dividend will be paid on 1 April 2021.
Composition of the Board of Directors and remuneration
The AGM confirmed the number of members of the Board of Directors to be five. Re-elected members of the Board of Directors are Petri Helsky, Reima Kerttula, Helena Nordman-Knutson, Jouko Peussa and Kirsi Sormunen. Reima Kerttula continues as Chairman of the Board of Directors.
The AGM confirmed the annual remuneration for the Board members as follows: yearly remuneration of EUR 43,000 for the Chairman of the Board of Directors and additionally EUR 1,500 for attendance at Board and committee meetings and other similar all-day Board assignments, and the other Board members be paid a yearly remuneration of EUR 20,000 and additionally EUR 1,000 for attendance at Board and committee meetings and other similar all-day Board assignments. For committee meetings, the meeting fee for the committee chairman shall be EUR 1,500. Out of the yearly remuneration 60% would be paid in cash and 40% in Exel Composites Plc shares.
Auditor
Ernst & Young Oy, Authorized Public Accountants, with Ms Johanna Winqvist-Ilkka, APA, having the principal responsibility, was re-elected as auditor of the Company for the term that will continue until the end of the next Annual General Meeting.
Authorization for the repurchase and/or on the acceptance as pledge of the Company's own shares
The AGM authorized the Board of Directors to decide on the repurchase and/or on the acceptance as pledge of the Company’s own shares by using unrestricted equity. The maximum amount to be acquired is 600,000 shares in total. The authorization is effective until the end of the next Annual General Meeting, however no longer than until 30 June 2022. The full authorization decision is available on the company's website at www.exelcomposites.com.
Vantaa, 23 March 2021
Exel Composites Plc
Board of Directors