HKScan proposes board composition and remuneration to AGM

HKScan Corporation's Shareholders' Nomination Board has put forward its proposals concerning the composition and remuneration of the company's Board of Directors for the 2024 Annual General Meeting. The nomination board proposes an eight-member board.

Four current members, Reijo Kiskola, Anne Koutonen, Jari Mäkilä, and Terhi Tuomi, are proposed for re-election. Ilkka Uusitalo, a current deputy board member, along with Niclas Diesen, Lauri Sipponen, and Sami Yski, are proposed as new members. All nominees have provided their consent to be elected. Current board members Harri Suutari and Per Olof Nyman, as well as deputy member Ove Conradsson, are not available for re-election.

The nomination board suggests that board remuneration largely remains unchanged from 2023 levels. The proposed annual fees are €70,000 for the Chair, €37,500 for the Vice Chair, and €30,000 for other ordinary members. Deputy members are proposed to receive €15,000 annually. The remuneration for the chair of the Audit Committee is proposed to increase from €10,000 to €15,000. Meeting fees and travel expenses will be compensated according to company policy.

Twenty-five percent of the remuneration will be paid in company shares, acquired on the market on behalf of the board members, with the remainder paid in cash. Share acquisitions are to take place after the publication of the company's interim report for January-September 2024. These proposals will be included in the notice of the Annual General Meeting. Biographical details for all nominees will be available on HKScan's website by March 28, 2024.