The Shareholders' Nomination Committee's proposal on the composition and remuneration of the Board of Directors of Cramo Plc

Vantaa, Finland, 2018-01-30 08:30 CET (GLOBE NEWSWIRE) -- Cramo Plc    Stock Exchange Release 30 January 2018, at 9.30 am Finnish time (EET)

The Shareholders' Nomination Committee's proposal on the composition and remuneration of the Board of Directors of Cramo Plc

Proposal on the composition of the Board of Directors

The Shareholders' Nomination Committee of Cramo Plc proposes to the next Annual General Meeting of Shareholders, which is planned to be held on 28 March 2018, that the number of members of the Board of Directors be confirmed as seven (7) ordinary members. The Nomination Committee proposes that, in accordance with their consents, the following current members of the Board be re-elected: Perttu Louhiluoto, Peter Nilsson, Veli-Matti Reinikkala, Joakim Rubin, Raimo Seppänen and Caroline Sundewall, and that AnnaCarin Grandin be elected as new Board member, all to serve for a term ending at the end of the Annual General Meeting 2019. Of the current members of the Board Erkki Stenberg has announced that he will not be available for re-election.

AnnaCarin Grandin (born 1967) is currently President of Sweden within Coor Service Management. She has held several senior management positions in Coor since 2001, including Executive Vice President (2014 - 2016), Senior Account Manager (2014), President of Norway (2011 - 2014) and Business Unit President, (2004 - 2010). AnnaCarin holds a B. Sc. in Business Administration from Stockholm University and Gävle University College.
 

Proposal on the remuneration of the members of the Board of Directors

The Nomination Committee proposes to the Annual General Meeting that the remuneration of the Board of Directors be raised, as it has remained unchanged since 2011, and that the Chairman of the Board be paid EUR 85,000 per year (previously EUR 70,000) and the other members of the Board EUR 37,500 (previously EUR 35,000) per year.

It is proposed that the remuneration is paid in cash and that the Board of Directors adopt a policy on Board member share ownership. The policy should entail that Board members, who do not already have such a holding of Cramo shares, are under a four-year (4) period from the start of their directorship expected to acquire Cramo shares to a total market value which equal at least one year’s Board fees before taxes, excluding any Committee compensation. The Nomination Committee will as part of its process annually follow up on the Board members’ shareholding and evaluate if it is according to the policy.

In addition, the Nomination Committee proposes that all Board members would be entitled to a compensation of EUR 1,000 per attended meeting of the Audit and Remuneration Committees and EUR 500 per attended meeting of the M&A Committee, which is expected to be established in 2018. Further it is proposed that the member of the Board elected in the position of Chairman of the Audit Committee would receive an additional compensation of EUR 5,000 per year. Reasonable travel expenses will be refunded in accordance with an invoice.

More information on the Shareholders' Nomination Committee's proposed members of the Board of Directors and its full proposal on the remuneration will be made available on company's website. The Nomination Committee's proposals will be included in the invitation to the Annual General Meeting.

The Shareholders' Nomination Committee of Cramo Plc is chaired by Mikael Moll, Partner, Zeres Capital. The members of the Nomination Committee are Ari Autio, Member of the Board of Directors of foundation, Rakennusmestarien säätiö, Kalle Saariaho, CEO, OP Fund Management Company Ltd and Veli-Matti Reinikkala, Chairman of the Board of Directors, Cramo Plc.

CRAMO PLC

Veli-Matti Reinikkala
Chairman of the Board of Directors

 

Further information:

Veli-Matti Reinikkala, Chairman of the Board of Directors, tel: +41 795 832 902
Mikael Moll, Chairman of the Shareholders' Nomination Committee, tel: +46 70 293 01 31

 

Distribution:

Nasdaq Helsinki Ltd.
Main media
www.cramogroup.com

 

Cramo is Europe’s second largest rental services company specialising in construction machinery and equipment rental and rental-related services as well as the rental of modular space. Cramo operates in about 300 depots in fourteen countries. With a group staff around 2,600, Cramo's consolidated sales in 2016 was EUR 712 million. Cramo shares are listed on Nasdaq Helsinki Ltd.

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