Paying Panostaja Oyj Board Members’ Fees in the Form of Shares Held by the Company

 

Panostaja Oyj Stock Exchange Bulletin, Changes in Companie´s own shares 14th December 2018, 17.00 p.m.

Paying Panostaja Oyj Board Members’ Fees in the Form of Shares Held by the Company

With reference to Board meeting fees, Panostaja Oyj’s AGM decided on 1st February 2018 that about 40% of the fee paid to a board member should be paid in accordance with the share issue authorisation given to the Board by transferring company shares to each Board member unless a Board member should already own more than one per cent of the total share capital on the date of the AGM. If a Board member’s holding in the company on the date of the AGM should exceed one per cent of the total share capital, the fee shall be paid fully in cash. Panostaja Oyj’s Board also decided at its organisational meeting held upon completion of the AGM to implement the AGM decision concerning Board member fees paid as shares in such a way that shares are transferred on a quarterly basis on the date following publication of the quarterly/annual report.

According to decisions taken at the AGM and by the Board, Panostaja Oyj transferred to Board members a total of 10,000 shares as part of their Board meeting fees as follows:

A total of 4,000 shares were transferred to the chairman of the Board Jukka Ala-Mello. As a result of the transfer, his holdings in Panostaja Oyj and other instruments issued by Panostaja Oyj amount to 158,942 shares.

A total of 2,000 shares were transferred to Board member Eero Eriksson. As a result of the transfer, his holdings in Panostaja Oyj and other instruments issued by Panostaja Oyj amount to 53,097 shares.

A total of 2,000 shares were transferred to Board member Tarja Pääkkönen. As a result of the transfer, his holdings in Panostaja Oyj and other instruments issued by Panostaja Oyj amount to 26,315 shares.

A total of 2,000 shares were transferred to Board member Kalle Reponen. As a result of the transfer, his holdings in Panostaja Oyj and other instruments issued by Panostaja Oyj amount to 8,033 shares.

Fees for Board member Mikko Koskenkorva have been paid fully in cash, as Mikko Koskenkorva’s holding on the date of the AGM exceeded the one per cent limit set by the AGM. Mikko Koskenkorva’s holdings in Panostaja Oyj and other instruments issued by Panostaja Oyj amount to 986,055 shares.

The CEO and the members of the Senior Management Team are involved in a share bonus system. The company´s management owns shares directly and through influential organizations. The Board of Directors of Panostaja Oyj decides on the principles underlying the reward scheme for the CEO and the Members of the Senior Management Team. On December 12, 2018, the Board of Directors of Panostaja Oyj has decided to transfer altogether 152.371 shares to the Senior Management Team as a part of share bonus system as well as based on the actualization of incentive and commitment scheme.

A total of 62,400 shares were transferred to CEO Juha Sarsama. As a result of the transfer, his holdings in Panostaja Oyj and other instruments issued by Panostaja Oyj amount to 751,665 shares.

A total of 35,657 shares were transferred to Senior Management Team member CFO Tapio Tommila. As a result of the transfer, his holdings in Panostaja Oyj and other instruments issued by Panostaja Oyj amount to 364,064 shares.

A total of 30,657 shares were transferred to Senior Management Team member Minna Telanne. As a result of the transfer, his holdings in Panostaja Oyj and other instruments issued by Panostaja Oyj amount to 253,059 shares.

A total of 23,657 shares were transferred to Senior Management Team member Miikka Laine. As a result of the transfer, his holdings in Panostaja Oyj and other instruments issued by Panostaja Oyj amount to 235,131 shares.

As a result of the transfer, the company holds a total of 228,385 shares.

PANOSTAJA OYJ, BOARD OF DIRECTORS

Juha Sarsama
CEO

For further information, please contact Juha Sarsama +358 40 774 2099

Panostaja is an investment company developing Finnish SMEs in the role of an active majority shareholder. The company aims to be the most sought-after partner for business owners selling their companies as well as for the best managers and investors. Together with its partners, Panostaja increases the Group's shareholder value and creates Finnish success stories. Panostaja has a majority holding in nine investment targets. Panostaja’s shares (PNA1V) are quoted on the Nasdaq Helsinki Stock Exchange. In the 2017 financial year, the Group’s net sales totaled MEUR 199.7.

www.panostaja.fi