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The portion of the annual remuneration of the members of the Board of Directors of Suominen Corporation which shall be paid in shares - transfer of own shares held by the company

Suominen Corporation   Stock Exchange Release  5 June 2014 at 14:30 (EEST)
The Annual General Meeting (AGM) of Suominen Corporation held on 26 March 2014 resolved on the following annual remuneration payable to the members of the Board of Directors for the year 2014: Chair 50,000 euro, Deputy Chair 37,500 euro and other members 28,000 euro. Further, it was decided that 40% of the annual remuneration shall be paid in shares of Suominen Corporation.

In accordance with the resolution by the AGM, the number of shares forming the above-mentioned remuneration portion payable in shares will be determined based on the share value in the stock exchange trading maintained by NASDAQ OMX Helsinki Ltd, calculated as the trade volume weighted average quotation of the share during the one month period immediately following the date on which the interim report of January-March 2014 of the company is published. The shares will be given out of the own shares held by the company through the decision of the Board of Directors by 6 June 2014 at the latest.

Based on the above, the aggregate number of shares to be transferred to the members of the Board of Directors as their remuneration payable in shares is 120,848 shares. The value of the transferred shares totals 68,600 euro, or approximately 0.5677 euro per share. These shares have been granted out of the Company’s own shares today, 5 June 2014, after the resolution taken by the Board of Directors. The resolution was based on the AGM’s authorization for the Board of Directors to decide on a share issue. Since the decision taken by the Board of Directors was essentially an execution of a detailed resolution taken by the AGM, the Board did not exercise independent discretion when it decided on the transfer of the shares. The transferred shares are of the same class as the company’s other shares.

The company held 1,924,367 own shares before the above-mentioned transfer of shares. The aggregate number of shares transferred to the members of the Board of Directors today on 5 June 2014 is 120,848. After the share transfer, Suominen Corporation holds 1,803 519 own shares.

Board of Directors

For further information, please contact: Tapio Engström, Senior Vice President, CFO, Suominen Corporation, tel. +358 10 214 300

Suominen in brief

Suominen supplies its industrial and retail customers with nonwovens and flexible packaging for use in consumer products worldwide. Suominen is the global market leader in nonwovens for wipes. The company employs more than 1,000 people in Europe and in the Americas. Suominen’s net sales in 2013 amounted to MEUR 433.1 and reported operating profit excluding non-recurring items was MEUR 18.1 (continuing operations). The Suominen share (SUY1V) is listed in NASDAQ OMX Helsinki Stock Exchange. Read more at www.suominen.fi.

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