0F29 Lassila & Tikanoja Oyj

Lassila & Tikanoja plc Stock exchange release 11 January 2024 at 9.00 am

Lassila & Tikanoja’s Shareholders’ Nomination Board submits proposals for the 2024 Annual General Meeting 

Lassila & Tikanoja’s Shareholders’ Nomination Board submits the following proposals to the Annual General Meeting to be held on 21 March 2024. The proposals will also be included in the notice of the 2024 Annual General Meeting.

Members of the Board of Directors

The Shareholders’ Nomination Board proposes the Board of Directors to have seven (7) members.

The Nomination Board proposes that all of the current members of the Board of Directors – Teemu Kangas-Kärki, Laura Lares, Sakari Lassila, Jukka Leinonen, Anni Ronkainen and Pasi Tolppanen – be re-elected to the Board of Directors and that Juuso Maijala be elected as a new member. In addition, the Nomination Board proposes that Jukka Leinonen be elected as Chairman of the Board of Directors and Sakari Lassila as Vice Chairman.

All of the candidates have given their consent to the election and are independent of the company and its significant shareholders.

A brief presentation of Juuso Maijala is available on Lassila & Tikanoja’s website at https://www.lt.fi/en/company/management-and-board-of-directors/board-of-directors. The current members of the Board of Directors are presented on the same page.                                                                                                                

Remuneration paid to the Board of Directors

The Shareholders’ Nomination Board proposes that the remuneration of the members of the Board of Directors be as follows:

– chairman, EUR 70,000 per year (2023: EUR 60,000);

– vice chairman, EUR 47,000 per year (2023: EUR 40,000); and

– members, EUR 35,000 per year (2023: EUR 30,000);

It is proposed that the fees be paid so that 40% of the annual fee is paid in Lassila & Tikanoja plc’s shares held by the company or, if this is not feasible, shares acquired from the market, and 60% in cash. Shares are to be issued to Board members and, where necessary, acquired directly from the market on behalf of Board members on the third trading day after the publication of the interim report for the first quarter of 2024.

In addition, it is proposed that the meeting fees be kept unchanged: EUR 1,000 per meeting to the chairman, EUR 700 per meeting to the vice chairman and EUR 500 per meeting to the other members of the Board. In accordance with the proposal, meeting fees will also be paid to the chairman and members of committees established by the Board of Directors as follows: chairman EUR 700 and ordinary members EUR 500.

The Shareholders’ Nomination Board consists of representatives appointed by the company’s three largest shareholders and the Chairman of the Board of Directors of Lassila & Tikanoja plc.

The Shareholders’ Nomination Board has consisted of Juhani Lassila as Chairman (Evald and Hilda Nissi Foundation), Miikka Maijala (group of shareholders), Tanja Eronen (Nordea Funds Oy) and Jukka Leinonen (Chairman of the Board of Directors of Lassila & Tikanoja plc).

LASSILA & TIKANOJA PLC

Additional information:Sirpa Huopalainen, General Counsel, tel. +358 40 5965241

Lassila & Tikanoja is a service company that is making the circular economy a reality. Together with our customers, we keep materials and properties in productive use for as long as possible and we enhance the use of raw materials and energy. This is to create more value with the circular economy for our customers, personnel and society in a broader sense. Achieving this also means growth in value for our shareholders. Our objective is to continuously grow our actions’ carbon handprint, our positive effect on the climate. We assume our social responsibility by looking after the work ability of our personnel as well as offering jobs to those who are struggling to find employment, for example. L&T operates in Finland and Sweden. In 2022, the company’s net sales amounted to EUR 844.1 million, and it employed around 8,300 persons. L&T is listed on Nasdaq Helsinki.

Distribution: Nasdaq Helsinki Major media www.lt.fi/en/

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