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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  30 May 2018 at 3:00 pm (EEST)

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

The Annual General Meeting (AGM) of Suominen Corporation held on 15 March 2018 resolved on the following annual remuneration payable to the members of the Board of Directors for the year 2018: Chair EUR 60,000, Deputy Chair EUR 37,500 and other members EUR 28,000. 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 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 2018 of the company is published.

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 23,742 shares. The value of the transferred shares totals EUR 83,787.54 or approximately EUR 3.53 per share. These shares will be granted out of the Company’s treasury shares on 1 June 2018 at the latest, based on the decision 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 786,712 treasury shares before the above-mentioned transfer of shares. After the share transfer, Suominen Corporation holds 762,970 treasury shares.

SUOMINEN CORPORATION
Board of Directors

Contact by email

President & CEO (interim)

Tapio Engström +358 10 214 300