Fri February 7 08:00 am 2014 in category Stock exchange releases
Nokian Tyres plc Stock Exchange Release Feb 7, 2014 at 8:00 a.m.
The Board’s proposals to the Annual General Meeting of 8 April 2014 concern the payment of dividends, the election the members of Nokian Tyres’ Board of Directors and the auditor.
The Board proposes to the Annual General Meeting that a dividend of EUR 1.45 per share be paid for the period ending on 31 December, 2013.
The dividend shall be paid to shareholders included in the shareholder list maintained by Euroclear Finland on the record date of 11 April, 2014. The proposed dividend payment date is 25 April, 2014.
The Nomination and Remuneration Committee of Nokian Tyres’ Board of Directors proposes to the Annual General Meeting that the Board comprise of seven members and current members (Kim Gran, Hille Korhonen, Risto Murto, Hannu Penttilä and Petteri Walldén) be re-elected for the one-year term.
New members proposed: Raimo Lind and Inka Mero.
Kim Gran is the President and CEO of the company. The other Board members are independent of the company. All Board members are independent of any major shareholders of the company.
Additional information on the proposed current Board members is available in the Investor information section of Nokian Tyres’ website at www.nokiantyres.com/investors.
The Nomination and Remuneration Committee of Nokian Tyres’ Board of Directors proposes that the fees remain the same: the fee paid to the Chairman of the Board is EUR 80,000 per year, while that paid to Board members is set at EUR 40,000 per year. In addition, according to the existing practices, 50% of the annual fee be paid in cash and 50% in company shares, such that in the period from April 9 to April 30, 2014, EUR 40,000 worth of Nokian Tyres plc shares will be purchased at the stock exchange on behalf of the Chairman of the Board and EUR 20,000 worth of shares on behalf of each Board member.
It is also proposed that, members of the Board are also granted an attendance fee of EUR 600 per meeting. It is proposed not to pay a separate compensation to the President and CEO for Board work.
The Board of Directors of Nokian Tyres proposes to the Annual General Meeting that KPMG Oy Ab, authorised public accountants, be elected as auditors.
7 February, 2014
Nokian Tyres plc
Board of Directors
For further information: Anne Leskelä, Vice President, Finance and Control, tel. +358 10 401 7481
Distribution: NASDAQ OMX, media and www.nokiantyres.com
Proposals by the Board of Directors of Nokian Tyres plc to the Annual General Meeting
The Board’s proposals to the Annual General Meeting of 8 April 2014 concern the payment of dividends, the election the members of Nokian Tyres’ Board of Directors and the auditor.
1. Dividend payment
The Board proposes to the Annual General Meeting that a dividend of EUR 1.45 per share be paid for the period ending on 31 December, 2013.
The dividend shall be paid to shareholders included in the shareholder list maintained by Euroclear Finland on the record date of 11 April, 2014. The proposed dividend payment date is 25 April, 2014.
2. Members of the Board and the auditor
The Nomination and Remuneration Committee of Nokian Tyres’ Board of Directors proposes to the Annual General Meeting that the Board comprise of seven members and current members (Kim Gran, Hille Korhonen, Risto Murto, Hannu Penttilä and Petteri Walldén) be re-elected for the one-year term.
New members proposed: Raimo Lind and Inka Mero.
Kim Gran is the President and CEO of the company. The other Board members are independent of the company. All Board members are independent of any major shareholders of the company.
Additional information on the proposed current Board members is available in the Investor information section of Nokian Tyres’ website at www.nokiantyres.com/investors.
The Nomination and Remuneration Committee of Nokian Tyres’ Board of Directors proposes that the fees remain the same: the fee paid to the Chairman of the Board is EUR 80,000 per year, while that paid to Board members is set at EUR 40,000 per year. In addition, according to the existing practices, 50% of the annual fee be paid in cash and 50% in company shares, such that in the period from April 9 to April 30, 2014, EUR 40,000 worth of Nokian Tyres plc shares will be purchased at the stock exchange on behalf of the Chairman of the Board and EUR 20,000 worth of shares on behalf of each Board member.
It is also proposed that, members of the Board are also granted an attendance fee of EUR 600 per meeting. It is proposed not to pay a separate compensation to the President and CEO for Board work.
The Board of Directors of Nokian Tyres proposes to the Annual General Meeting that KPMG Oy Ab, authorised public accountants, be elected as auditors.
7 February, 2014
Nokian Tyres plc
Board of Directors
For further information: Anne Leskelä, Vice President, Finance and Control, tel. +358 10 401 7481
Distribution: NASDAQ OMX, media and www.nokiantyres.com